Biogen given hold rating by Jefferies

Jefferies & Co. Inc. analyst Adam Walsh gave Biogen Idec Inc. a rating of hold and a price target of $39. Jefferies puts the odds of Tysabri, for Multiple Sclerosis, returning to the market at 80% to 90%, with substantial restrictions likely. Tysabri would capture just 10% of the original expected market. Shares of the Cambridge, Mass., pharmaceutical company were down 9 cents, or 0.20%, at $44.84 on volume of 4,104,881 shares versus the three-month running average of 3,039,250 shares. (Nasdaq: BIIB)

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