Jefferies maintains Biogen Idec at hold rating

Biogen Idec was maintained by Jefferies & Co. Inc. analyst Adam Walsh at a hold rating with a $39 price target as the company releases third-quarter results this week. Jefferies said it estimates total revenue of $630 million and earnings per share of $0.42, which is in line with consensus. Tysabri is unlikely to return to the market to treat multiple sclerosis and if it does, it will likely be for patients who have exhausted all other options, limiting peak sales to about $300 million, Jefferies said. Shares of the Cambridge, Mass.-based biotechnology company were up $0.77, or 1.94%, at $40.42 on volume of 2,799,791 shares versus the three-month running average of 3,719,050 shares.

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