Is Biogen (BIIB) Undervalued Following Its Q2 2026 Earnings?

Biogen (BIIB) has reported its Q2 2026 earnings, leading analysts to assess its valuation. Despite recent share price gains, the company is seen as 9.7% undervalued, with a fair value of $227.59 compared to its current price of $205.61, largely due to the potential of its Alzheimer's therapy LEQEMBI. However, the article highlights potential risks like performance of new drug launches and competitive pressures, alongside a P/E ratio higher than industry averages.