UPDATE: Bank of America Resumes on Biogen Idec at Neutral with Promising New Product

In a report published this morning, Bank of America's analysts resumed coverage on Biogen Idec

with a Neutral rating and a $182 PT. Bank of America reported that, “We rate BIIB shares a Neutral as we see limited upside to consensus estimates, and believe current valuation reflects a very successful Tecfidera launch. New pipeline data readouts are not expected until 2014-2015.” Biogen Idec currently trades at $178.44.