Genentech at outperform by Bear Stearns

Bear Stearns analyst Mark Schoenebaum rated Genentech, Inc. at outperform with a $96 price target on Genentech's planned purchase of Tanox for $919 million in cash. The analyst considered the company's move surprising as the price and rationale behind the transaction leave room for some debate. Shares of the South San Francisco, Calif.-based biotherapeutic company were up 24 cents, or 0.307%, at $81.59. (NYSE: DNA)

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