Should You Buy Biogen Stock After Its Stunning FDA Win?

Biogen's (NASDAQ: BIIB) months of waiting on pins and needles are over. On Monday, the U.S. Food and Drug Administration (FDA) granted accelerated approval to aducanumab for treating Alzheimer's disease. Biogen will market the drug under the brand name Aduhelm.

Unsurprisingly, trading in the biotech stock was halted before the FDA's announcement Monday morning. As soon as the trading was reinstated, though, Biogen's shares skyrocketed more than 60% before giving up some of the gains. Should you buy Biogen stock after its stunning FDA win?

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