Genentech maintained by Jefferies at buy

Genentech Inc. was maintained by Jefferies & Co. Inc. analyst Adam A. Walsh at a buy rating and a $98 price target after the FDA approved Bristol-Myers Squibb's Orencia to treat rheumatoid arthritis. It's a first-in-class agent that will compete with Rituxin. But the company is currently pursuing clinical trials leading to expanded label applications for Rituxin. On Dec. 27, shares of the South San Francisco, Calif., biotechnology company were down $1.17, or 1.25%, at $92.76 on volume of 1,983,800 shares versus the three-month running average of 3,611,850 shares.

© 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.