Jefferies maintains Biogen at hold

Biogen Idec was maintained by Jefferies & Co. Inc. analyst Adam Walsh at a hold on a long-term view with a price target of $39 per share. With the poor earnings behind the company, shares should trade higher near term on two potential catalysts, Jefferies said. FDA decisions should come back within the next month on Rituxan for rheumatoid arthritis and Tysabri for multiple sclerosis. Shares of the Cambridge, Mass.-based pharmaceutical company were up $0.14, or 0.37%, at $38.49 on volume of 3,768,363 shares versus the three-month running average of 3,702,540 shares.

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