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Is This Stock a Buy After Soaring by 37%?

Is This Stock a Buy After Soaring by 37%?

Biotech giant Biogen (NASDAQ: BIIB) was underperforming the market this year -- that is, until the company's shares soared by as much as 37% last week. The drugmaker's major win in the stock market came after it reported positive top-line results from a phase 3 clinical trial for lecanemab, a potential therapy for Alzheimer's disease (AD). Biogen is developing lecanemab in collaboration with Japan-based Esai.