Genentech kept at buy by Merrill

Merrill Lynch analyst Eric Ende kept Genentech, Inc. at a buy as the company acquires its Xolair partner, Tanox, for $919 million, or about $740 million net of cash and transaction expenses. This is the first acquisition for Genentech and could signal less confidence in its organic growth prospects, according to Ende. 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.