Genzyme gets buy rating from Jefferies

Genzyme Corp. was given a buy rating by Jefferies & Co., Inc. analyst Adam Walsh. Jefferies estimates the company's fourth-quarter 2005 earnings per share at $0.63, compared to Street consensus at $0.60. Despite the light pre-reported fourth-quarter 2005 revenue, the analyst believes the potential for better-than-expected gross margins, tight operating expense controls, and a beneficial tax rate could allow Genzyme to hit the $0.63 estimate. Genzyme will report its earnings on Feb. 15. Shares of the Cambridge, Mass., biotechnology company were up 42 cents, or 0.62%, at $68.05 on volume of 3,610,459 shares versus the three-month running average of 1,968,600 shares. (Nasdaq: GENZ)

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