Genentech "overweight"

03/21/06 - Prudential Financial

NEW YORK, March 21 (newratings.com) - Analyst Ron Ellis of Prudential Financial maintains his "overweight" rating on Genentech Inc (DNA). The target price is set to $100.

In a research note published yesterday, the analyst mentions that the company has raised its EPS guidance for 2006 from 35%-45% to 40%-50%. Genentech has indicated that the growth prospects of its Avastin drug are positive, which would eliminate concerns regarding the drug. According to the analyst, Genentech’s initial stage pipeline is likely to lend support to the company’s growth from 2012 onwards.