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Is This Biotech Stock a Bad News Buy?

TheMotleyFool

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Is This Biotech Stock a Bad News Buy?Photo, wide shot, wide-angle lens, Pharmaceutical company, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ae4a134-dd01-4c80-a621-18399f5a2541.png

Shares of biotech giant Biogen (NASDAQ: BIIB) have dropped by 40% in the past year, easily underperforming the broader market over this period. The drugmaker has encountered many headwinds related to its controversial Alzheimer's disease drug, Aduhelm.

But even though Biogen's stock is on sale, that doesn't necessarily make its shares a buy. Right now, the company's prospects still look dim. Let's look into what's going on with this biotech giant.