Analysts Comment on Biogen Amid Q3 Earnings

On October 22, Biogen Idec Inc. (NASDAQ: BIIB) reported third quarter revenues of $2.5 billion and an EPS of $3.80. Following the report, a number of analysts have issued note depicting their outlook for the stock.Jefferies: Buy, $410The firm noted, "BIIB beat 3Q14 consensus estimates, but disclosure of a case of PML related death in a Tecfidera patient resulted in considerable pressure on the stock."Despite this, Jefferies continues to see low risk of PML with Tecifdera if all necessary precautions are taken. The firm remains positive on Tecfidera's risk/reward profile.Citi: Buy, $383Citi commented, " Tecfidera launch seems to moderate after a steep launch. The core business continues to be strong as Avonex and Tysabri are maintaining relatively robust market share despite competition from oral drugs. We expect that Biogen's overall share will grow in the MS market."The team at Citi noted the death from a patient with PML who was on Tecfidera is a cause for concern, but believe sales should return to normal once physicians are comfortable that it was an isolated incidence. Amid the analyst reports, Biogen Idec's stock is up almost two percent in Thursday's pre-market session.