Genentech kept at outperform by RBC

RBC Capital Markets analyst Jason Kantor reiterated Genentech, Inc. at outperform, average risk, following Avastin's approval for first-line treatment of advanced non-small cell lung cancer by the Food and Drug Administration. According to Kantor, this positive news ensures reimbursement and a likely robust launch in a new billion-dollar market. It is also expected to drive significant sales growth in the fourth-quarter 2006 and 2007. Shares of the South San Francisco, Calif.-based biotherapeutic company were down 74 cents, or 0.88%, at $83.41. (NYSE: DNA)

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