Genentech reiterated at buy by Jefferies

Genentech, Inc. was reiterated at a buy and $100 price target by Jefferies & Co., Inc. analyst Adam Walsh. Investors should take advantage of any pullback in the company's shares, according to the analyst, who is not overly concerned about a 15-month delay in formal approval of Avastin for breast cancer. Near-term catalysts are expected to drive the franchise, with upside surprises possible. Shares of the South San Francisco, Calif.-based biotherapeutic company were down $3.74, or 4.56%, at $78.33. (NYSE: DNA)

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