Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for Genentech Inc. > News item |
RBC puts Genentech at outperform
Genentech, Inc. was given an outperform, average risk, rating by RBC Capital Markets analyst Michael Yee on news that the company will purchase Tanox for $919 million. This positive move essentially trades cash for cash flow, increasing Genentech's earnings quality, according to the analyst. With $4 billion in cash at the end of the third quarter and $1.3 billion in operating cash flow in the quarter, Genentech has "significant potential" to become a consolidator in the industry, noted Yee. Shares of the South San Francisco, Calif.-based biotherapeutic company were up 24 cents, or 0.307%, at $81.59. (NYSE: DNA)
© 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.