Genentech (DNA) Earnings & Market Reaction

Genentech (DNA) announced earnings after the closing bell yesterday and it beat expectations ($0.78/share vs. consensus $0.72/share). The company also raised EPS guidance for the remainder of the year. [Earnings Release] *courtesy genengnews.com

How did the market respond? Currently shares of DNA are down $1.75 or almost 2.5%
My thoughts are that this selling is a blip and could prove a good entry point for longer term investment through the end of the calendar year. I look for DNA to come back this fall and move much higher by the end of the year.

Disclosure: Author long shares of DNA