Genentech, the second-biggest biotech in the world, just got cheaper. Analysts, while bullish on the company’s performance, have criticized Genentech’s stock for being too pricey. But now analysts are starting to see a better deal, after the biotech beat expectations with its first quarter earnings report. Genentech reported a 39 percent sales jump to $1.6 billion for the quarter, while Thomson Financial had consensus estimates projecting a 35 percent increase. Also, Genentech reported earnings per share of 46 cents for the quarter, compared to a consensus projection of 41 cents.
