Biogen on hold by Jefferies

Biogen Idec was given a hold rating by Jefferies & Co., Inc. analyst Adam Walsh on feedback from a conference call with a pair of rheumatology experts discussing Rituxan and Orencia. These experts expect Rituxan approval on the Feb. 28 PDUFA date, although both Rituxan and Orencia are promising therapies for rheumatoid arthritis patients. Shares of the Cambridge, Mass., pharmaceutical company were down 27 cents, or 0.57%, at $47.06 on volume of 2,630,969 shares versus the three-month running average of 2,937,350 shares. (Nasdaq: BIIB)

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