Genentech given a buy rating by Jefferies

Jefferies & Co., Inc. analyst Adam Walsh rated Genentech, Inc. at buy. The analyst is maintaining the second-quarter estimate of $0.47 in anticipation of a strong quarter for the company. Key drivers are the accelerated off-label use of Avastin in lung and breast cancers, and Herceptin in early breast cancer. Shares of the South San Francisco, Calif.-based pharmaceutical company were up 33 cents, or 0.39%, at $84.06 on volume of 8,532,700 shares versus the three-month running average of 3,580,240 shares. (NYSE: DNA)

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