Monday, July 11, 2005

Genentech (DNA) Trading Higher

Genentech is trading higher ($1.26) in the after hours after beating estimates by a penny. Sales of Genentech's cancer drug Avastin surged 85% year over year and were up 21% from the last quarter. Avastin helps fight lung cancer, breast cancer, colon cancer, and many other types of cancer. Sales of Avastin are expected to double for 2005 and 2006.

Source: Reuters

I like Genentech except for the the ridiculously high P/E compared to Amgen. If anything should go wrong with Genentech then the stock could fall just as fast as it has run up. I can't take the pain of being in both Google and Genentech especially if they both run into some speedbumps. I still think they are both great companies.


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