Where Will Biogen Be in 1 Year?
Biogen (NASDAQ: BIIB) stock has been on fire for the past month with a stunning gain of 46%, adding over $20 billion to its market cap. The biotech has dazzled investors and patients alike after receiving a conditional approval from the U.S. Food and Drug Administration (FDA) for Aduhelm. The drug targets Alzheimer's disease and is the first in 20 years to receive regulatory clearance for the indication.
Most people, even FDA panelists themselves, expected the agency to reject the drug's approval application due to weak scientific data. Biogen is not off the hook yet as it still needs to run a confirmatory study to verify the drug's efficacy. Can you count on its stock over the next 12 months?
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Source Fool.com
