With shares of Biogen (NASDAQ: BIIB) falling by 11% in the last 30 days, and by 20% in the last five years, could there be an opportunity for enterprising investors to buy the dip on this struggling biotech stock?

On the positive side, the company's new Alzheimer's drug Leqembi secured full approval from the Food and Drug Administration (FDA) on July 6. But the company's track record with commercializing Alzheimer's medicines is poor, and there are a few indications that Leqembi isn't as safe or effective as hoped.

Furthermore, while the stock might look slightly undervalued, there are a few reasons to believe it might struggle to grow. Let's dive in.

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Source Fool.com