Biogen at hold by Jefferies

Biogen Idec Inc. was given a hold rating by Jefferies & Co., Inc. analyst Adam Walsh on news that the Food and Drug Administration lifted the Tysabri clinical hold, allowing Biogen and Elan to continue studying the drug in clinical trials. Jefferies was surprised by the shares' rally on this news. Shares of the Cambridge, Mass., pharmaceutical company were up $1.61, or 3.52%, at $47.33 on volume of 6,459,261 shares versus the three-month running average of 2,863,070 shares. (Nasdaq: BIIB)

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