Jefferies maintains buy for Genentech

Genentech was maintained by Jefferies & Co., Inc. analyst Adam Walsh at a buy rating on news that its physician consultants, attending the Macular 2006 conference, indicate that once approved, Lucentis will be used in 85% to 90% of patients with age-related macular degeneration. A rapid transition from the use of Avastin to Lucentis is anticipated, Jefferies said. Shares of the South San Francisco, Calif., biotechnology company were up $1.90, or 2.17%, at $89.36 on volume of 4,213,700 shares versus the three-month running average of 3,405,350 shares. (NYSE: DNA)

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