Merrill keeps Genentech at neutral

Genentech Inc. was maintained at neutral by Merrill Lynch analyst Eric Ende after the company presented research and development productivity and strong sales data at analyst day. Management raised its 2006 earnings-per-share guidance from growth to 40% to 50% from 35% to 45%. Merrill raised its 2006 earnings-per-share estimate to $1.88 from $1.79. Shares of the South San Francisco biotherapeutic company were up $1.65, or 1.87%, at $89.79 on volume of 6,519,100 shares versus the three-month running average of 3,371,620 shares. (NYSE: DNA)

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