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. Today, with the stock a lot closer to $300 than $400, it's clear that the excitement surrounding Biogen has cooled. 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.