New! Sign up for our email newsletter on Substack.

Genentech Set For Strong Growth Through 2007

Prudential Equity Group reiterated a “overweight” rating on Genentech (nyse: DNA) and raised its target price to $100 from $81 and raised earnings-per-share estimates for fiscal 2005 and 2006. “Following the swell of positive oncology data presented at the American Society of Clinical Oncology earlier this month and positive top-line Lucentis data, we believe 2005 is on track for earnings growth of nearly 40% and anticipate a wave of accelerating earnings growth to exceed 50% in 2006, while 2007 should continue to enjoy over 30% growth. This represents potentially five consecutive years of earnings growth in excess of 30% on a non-GAAP basis,” the research firm said. Earnings per share for 2005 and 2006 are now estimated at $1.15 and $1.77, up from $1.14 and $1.70, respectively. Third-quarter EPS for the third quarter 2005 was raised a penny to 29 cents.

http://www.forbes.com/technology/sciences/2005/06/01/0601automarketscan07.html

sciencenerddepot


Did this article help you?

If you found this piece useful, please consider supporting our work with a small, one-time or monthly donation. Your contribution enables us to continue bringing you accurate, thought-provoking science and medical news that you can trust. Independent reporting takes time, effort, and resources, and your support makes it possible for us to keep exploring the stories that matter to you. Together, we can ensure that important discoveries and developments reach the people who need them most.