Jefferies reiterates Genentech at buy

Genentech, Inc. was reiterated at a buy with a $100 price target by Jefferies & Co., Inc. analyst Adam Walsh, who recommends investors take advantage of any pull back in the company's shares to add to positions. Second half of the year approvals in breast and lung cancers should drive the franchise, despite a second-quarter Avastin shortfall. Shares of the South San Francisco, Calif.-based pharmaceutical company were down $3.08, or 3.66%, at $80.98 on volume of 10,560,900 shares versus the three-month running average of 3,647,350 shares. (NYSE: DNA)

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