Genentech reiterated at outperform by RBC

RBC Capital Markets analyst Jason Kantor reiterated Genentech, Inc. at an outperform rating, average risk, after Avastin failed to demonstrate a survival benefit in a phase 3 pancreatic cancer trial. While the analyst did not include pancreatic cancer in its model, positive results were expected to serve as a catalyst. Avastin is still set to be approved in first-line lung and breast cancer in later this year. Shares of the South San Francisco, Calif.-based biotherapeutic company were down $1.22, or 1.54%, at $77.89 on volume of 3,163,900 shares versus the three-month running average of 3,436,760 shares. (NYSE: DNA)

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