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Genentech at buy rating from Jefferies
Genentech, Inc. was given a buy rating by Jefferies & Co., Inc. analyst Adam Welsh. Jefferies is maintaining its first-quarter 2006 estimate of $0.42 ahead of what should be a strong quarter for Genentech. Accelerating off-label use of Avastin in lung and breast cancers, and Herceptin in early breast cancer, should drive better-than-expected earnings growth. Shares of the South San Francisco, Calif., biotechnology company were up $1.44, or 1.82%, at $80.63 on volume of 4,293,300 shares versus the three-month running average of 3,417,620 shares. (NYSE: DNA)
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