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UPDATE: Stifel Nicolaus Initiates Synta Pharmaceuticals at Hold; Enthusiasm Outpaces Expectations

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Stifel Nicolaus initiated its coverage on Synta Pharmaceuticals (NASDAQ: SNTA) with a Hold rating, as the company may be rushing development on its promising pipeline.

Stifel Nicolaus said, "While we view Ganetespib as the leading Hsp90 inhibitor in clinical development, we remain cautious on the conduct and expectations for the ongoing Phase 2b/3 GALAXY trial in NSCLC. … Lastly we believe the expectation for top-line results from the Phase 3 portion by mid 2014 is not feasible since the median survival for second-line NSCLC treated with Taxotere monotherapy is about 6-7 months. In our opinion lofty expectations that are not likely to be met, will not likely be positively perceived by investors."

Synta Pharmaceuticals closed at $6.75 on Wednesday.

Latest Ratings for SNTA

Oct 2015Roth CapitalDowngradesBuyNeutral
Apr 2015FBR CapitalInitiates Coverage onOutperform
Apr 2015Canaccord GenuityInitiates Coverage onOutperform

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Posted-In: Stifel NicolausAnalyst Color Initiation Intraday Update Analyst Ratings


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