Jefferies & Co Downgrades Genentech (DNA) to Hold
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Jefferies & Co downgrades Genentech (NYSE: DNA) from Buy to Hold, based on panel decision against Avastin for breast cancer. Price target reduced from $85 to $65.
Genentech, Inc. (Genentech) is a biotechnology company that discovers, develops, manufactures and commercializes biotherapeutics for unmet medical needs. The Company manufactures and commercializes multiple biotechnology products, and receives royalties from companies that are licensed to market products based on its technology. Genentech commercializes various products in the United States, including Avastin, Rituxan, Herceptin, Lucentis, Xolair, Tarceva, Nutropin, Activase, TNKase, Cathflo Activase, Pulmozyme and Raptiva.
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