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Genentech, Caterpillar Still Building Bases.(B)(NYSE STOCKS IN THE NEWS)
Byline: NANCY GONDO
Genentech has been building a base for 10 weeks. Though shares fell Wednesday on disappointing study results on the biotech's Avastin cancer drug, analysts don't think it will impact the drug's launch. Genentech still sees FDA approval by the end of first quarter 2004. Shares are 4% off their 52-week high.
WR Hambrecht on Wednesday reiterated its buy rating on the stock, which gets a 94 from IBD for its Earnings Per Share Rating and an 84 for Relative Price Strength. Genentech tops three of four rankings in its 43-stock Medical-Genetics group and gets an A for its SMR Rating. All these ratings are found in Stock ...
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