Jefferies rates Genentech at buy

Genentech, Inc. was given a buy rating by Jefferies & Co., Inc. analyst Adam Walsh following a company conference call with two rheumatology experts. Both view Rituxan and Orencia as equally promising new therapies for rheumatoid arthritis patients, with Rituxan likely garnering greater market share. However, the pair felt strongly that the current Rituxan safety database is more than sufficient to warrant FDA approval. Shares of the South San Francisco biotechnology company were down 40 cents, or 0.47%, at $84.25 on volume of 2,435,500 shares versus the three-month running average of 3,297,300 shares. (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.