Synta Pharmaceuticals Corp. Stock Price Up 5% on Strong Earnings (SNTA)
Shares of Synta Pharmaceuticals Corp. (NASDAQ:SNTA) rose 5% during mid-day trading on Friday after the company announced better than expected quarterly earnings, AnalystRatings.Net reports. The stock traded as high as $4.18 and last traded at $4.17, with a volume of 1,087,842 shares changing hands. The stock had previously closed at $3.97.
The company reported ($0.28) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.29) by $0.01.
A number of analysts have recently weighed in on SNTA shares. Analysts at MLV & Co
cut their price target on shares of Synta Pharmaceuticals Corp. from $10.00 to $6.00 in a research note on Thursday, March 13th. They now have a “buy” rating on the stock. Separately, analysts at JMP Securities cut their price target on shares of Synta Pharmaceuticals Corp. from $14.00 to $10.00 in a research note on Wednesday, March 12th. Finally, analysts at BMO Capital Markets downgraded shares of Synta Pharmaceuticals Corp. from a “market perform” rating to an “underperform” rating in a research note on Wednesday, March 12th. They now have a $1.00 price target on the stock, down previously from $5.00. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Synta Pharmaceuticals Corp. has a consensus rating of “Hold” and a consensus target price of $11.20.
The stock’s 50-day moving average is $4.23 and its 200-day moving average is $5.06. The company’s market cap is $351.8 million.
Synta Pharmaceuticals Corp. is a biopharmaceutical company. The Company is focused on discovering, developing, and commercializing small molecule drugs to severe the medical conditions of the patients with cancer and inflammatory diseases.
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