Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Banc of America Raises Genentech Estimates


Banc of America raised its estimates and target on Genentech (DNA).

On Thursday the FDA approved Avastin for the treatment of metastatic cancer of the colon or rectum. Analyst Michael King says Avastin received a label for use in combination with I.V.5-FU-based chemotherapy. He says this news is positive, as the drug may be used with either of the typical front-line regimens: Camptosar-based "Saltz," or Elexatin-based "Folfox."

He notes Avastin will be priced at $4,400 a month, which is higher than the previous $2,900 estimate. King says the possibility of stronger than expected sales could lead to upward earnings per share revisions in 2004. King upped the $1.44 2004 earnings per share estimate to $1.45, and raised the $1.80 2005 estimate to $1.96. He has a $137 target.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus