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Jefferies keeps Genentech at buy
Genentech, Inc. was reiterated by Jefferies & Co., Inc. analyst Adam Walsh at a buy and a $106 price target. Despite mixed third-quarter results, Walsh would be a buyer on any weakness. Jefferies' survey predicts strong Avastin and Herceptin growth to resume in the fourth quarter. The company reported earnings per share of $0.59 compared with Jefferies' $0.53 estimate. Shares of the South San Francisco, Calif.-based biotherapeutic company were down $1.45, or 1.69%, at $84.15. (NYSE: DNA)
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