Biogen Idec (NASDAQ:BIIB) was downgraded by UBS (NYSE:UBS) to neutral from buy with a price target of $156, as the firm believes that the stock price has gotten ahead of itself, being higher by about 56% since the last upgrade.
Shares are lower by about seven tenths of a percent.
Celgene (NASDAQ:CELG) was downgraded by UBS (NYSE:UBS) to neutral from buy with a price target of $80 as the failure of Revlimid to gain EU approval does not justify the current stock price.
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