Genentech rated at buy by Jefferies

Jefferies & Co., Inc. analyst Adam Walsh rated Genentech Inc. at a buy with a price target of $106. Present use of Avastin and Herceptin are constrained by reimbursements. A survey of 33 U.S.-based oncologists shed light on present and future utilization trends for Avastin in non-small cell lung cancer and metastatic breast cancer, and Herceptin in adjuvant breast cancer, according to Walsh. Shares of the South San Francisco, Calif.-based biotherapeutic company were up $3.71, or 4.66%, at $83.37. (NYSE: DNA)

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