Biogen estimates raised by Jefferies

Biogen Idec Inc. was maintained by Jefferies & Co. analyst Adam Walsh at a hold rating following second-quarter earnings, but EPS estimates were raised to $1.60 from $1.51 for 2005 and to $1.90 from $1.88 for 2006. Jefferies said, considering strong results for the cancer drug Rituxan but a low probability of the multiple sclerosis drug Tysabri returning to the market, it sees the stock value at $39 per share over the next 12-18 months. Biogen shares Thursday were up $0.42, or 1.06%, at $39.90 on volume of 4,735,004 shares versus the three-month running average of 4,544,590 shares.

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