Is Biogen Stock a Buy Now?

Thanks to well-received clinical trial data for its investigational Alzheimer's therapy, lecanemab, shares of Biogen (NASDAQ: BIIB) are up by more than 51% in the past three months -- and the company hasn't even made a single dollar from the positive findings yet. Including lecanemab, Biogen has a dozen programs in late-stage clinical trials, all but four of which are being developed for indications in neurology. Its areas of focus within neurology are Alzheimer's disease and Parkinson's disease, though it also has a trio of programs for multiple sclerosis (MS) in development.