Genentech maintained by Jefferies at buy

Genentech was maintained by Jefferies & Co. analyst Adam K. Walsh at a buy rating in anticipation of strong fourth-quarter results to be announced Jan. 10. Jefferies increased its estimated fourth-quarter earnings per share estimate to $0.34 from $0.30. Accelerated off-label use of Avastin in breast and lung cancers and Herceptin in early breast cancer is expected to drive strong earnings growth. Shares of the South San Francisco, Calif., biotechnology company were up $1.33, or 1.46%, at $92.66 on volume of 4,484,700 shares versus the three-month running average of 3,336,110 shares.

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