Down 16% Since October, Could This Stock Make a Turnaround?
Since Biogen (NASDAQ: BIIB) got regulatory approval last year to sell its Alzheimer's disease drug, Aduhelm, things have gone from bad to worse. As a result of fierce and widespread criticism about its efficacy, safety, and cost, the drug only brought in $3 million in 2021, and earlier in April the government ruled that it wouldn't be covered by Medicare, effectively dooming its commercial prospects.
Now, Biogen's shares are down more than 16% in the last six months, and if you bought this stock at practically any time in the last five years, you've lost (at least) some money. Nonetheless, Biogen might be able to recover from its tailspin. Let's take a look at what could be in its future, given where it is today.
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Source Fool.com
