Can A Genentech Upgrade Fix Its Woes?

by Jon C. Ogg
24/7 Wall St.



This morning shares of Genentech (DNA) are trading up 1.3% at just under $76.00 after a Deutsche Bank upgrade on the stock. Shares closed at $74.90 yesterday and even traded as low as $74.32 intraday. Both levels marked lows for the last 52-weeks, but this is actually a critical juncture because the stock broke a two-year low since their was no 'wow-effect' at all this year from the ASCO conference last weekend.

The Deutsche Bank upgrade this morning from a 'Hold' to 'Buy' is based on discount valuations and upon treatments for colon cancer, MS, and lupus. The 12-month target is somewhat in-line with many of the older 'buy' targets from Wall Street and is listed as $95.00.


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