Jefferies gives Genentech buy rating

Genentech, Inc. was given a buy rating by Jefferies & Co., Inc. analyst Adam Walsh on channel news that indicates present Avastin use in AMD will be 85% to 90% replaced by Lucentis, possibly by early summer. The FDA has accepted the Lucentis sBLA for Priority Review and the PDUFA date is now June 30. Genentech's two-year phase 3 Marina data showed that patients maintained one-year improvements in visual acuity at two years follow up. With Rituxan now approved for RA, Jefferies expects the battle for market share between Orencia and Rituxan to take center stage, with Rituxan likely to garner greater market share. Shares of the South San Francisco pharmaceutical company were down 74 cents, or 0.86%, at $84.95 on volume of 4,183,000 shares versus the three-month running average of 3,305,590 shares. (NYSE: DNA)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.