Why Biogen's Stock Has Likely Peaked
Shares of Biogen (NASDAQ: BIIB) soared in June after the U.S. Food and Drug Administration (FDA) granted accelerated approval for the company's Alzheimer's drug, Aduhelm. The stock price reached more than $468 on June 7, but it hasn't been anywhere close to that level since then. Today, with the stock a lot closer to $300 than $400, it's clear that the excitement surrounding Biogen has cooled.
Investors looking for a top growth stock may be sorely disappointed with the healthcare company if they buy in today. Biogen is in a tough spot; it has reported soft sales numbers in its most recent quarters, and the many question marks surrounding Aduhelm -- and how many doctors may end up prescribing it -- only make it a riskier investment.
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Source Fool.com
