McNicoll Lewis & Vlak Reiterates Buy, $10 Target on Synta Pharmaceuticals

MLV & Co maintains its Buy rating and $10 target price on Synta Pharmaceuticals Corp.

as the company announces results of a Phase II trial of its lead dug candidate. MLV notes, “We are maintaining our one-year target price of $10.00 and BUY recommendation for Synta Pharmaceuticals Corp. In 1H:12, we look forward to interim results from a Phase IIb study of ganetespib in combination with Taxotere in patients with Stage IIIB and IV non small cell lung cancer (NSCLC), and establishment of at least one new partnership agreement.” SNTA closed at $4.42 per share on Thursday.