Genentech maintained by Merrill at buy

Genentech Inc. was maintained by Merrill Lynch analyst Eric Ende at neutral following new data for its Lucentis to treat wet age-related macular degeneration. Concern that the data could negatively impact Genentech's Avastin sales is unwarranted, Merrill said. Genentech shares Tuesday climbed $0.19, or 0.22%, to $88.25 on volume of 2,888,800 shares versus the three-month running average of 4,298,770 shares.

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