When you think of the word “biotech,” Biogen (NASDAQ: BIIB) may be one of the first companies to come to mind. The biotech giant has grown annual profit more than 200% to more than $4 billion over the past decade. And it sells four blockbuster drugs including multiple sclerosis (MS) treatment Tecfidera. If you bought Biogen shares a decade ago, your investment has more than tripled in value.
But if you haven’t yet bought shares of Biogen, you may be wondering if this big biotech’s story is over. Revenue and profit are on the decline. And the shares have fallen from an all-time high reached in 2015. Let’s take a look at three things to consider before you decide whether to buy Biogen stock — or keep it on your watch list.