Per the S&P: Although we consider DNA a core biotechnology holding, we see the shares as appropriately valued, given slowing growth trends across the product portfolio.We see recent FDA accelerated Avastin approval in metastatic breast cancer supporting the shares, preserving prior offlabel prescribing, and expect full approval as new studies confirm progression-free survival trends.We ...
We are reiterating our rating on Genentech at Buy, and keeping our target price at $86 / share. We remind investors that we upgraded the name in February based on the Accelerated Approval of Avastin for 1st-line metastatic breast cancer. Our EPS forecasts for 2008 through 2012 have been adjusted higher based on expected higher sales of Avastin going forward. We are also encouraged...
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