Jefferies maintains Biogen at hold

Biogen Idec Inc. was maintained at hold by Jefferies & Co. Inc. after the company missed the consensus earnings-per-share estimate by $0.06 due to weak Avonex sales, lower-than-expected Rituxan-derived revenue and charges, partially offset by lower-than-expected research and development expenses, taxes and sharecount. Analysts Adam Walsh and Salveen Kochnover maintained Biogen's $39 price target and raised the fourth-quarter earnings-per-share estimate to $0.47 from $0.45. Shares of the San Diego-based biotechnology company were down $1.66, or 4.15%, at $38.25 on volume of 4,764, 284 shares versus the three-month running average of 3,703,520 shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.