Merrill has Genentech at buy

Genentech Inc. was rated at buy by Merrill Lynch analyst Eric Ende as the stock trades at the low end of its historical valuation range. According to the analyst, the recent delay of Avastin approval for breast cancer was overly discounted in the stock. The drug is already being used off-label for breast cancer and its use is expected to continue growing as it remains a long -term growth driver. Shares of the South San Francisco, Calif.-based biotherapeutic company were up 41 cents, or 0.53%, at $78.10. (NYSE: DNA)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.