Expectations can be irrational and still have power – that’s about the only reason I can see for why Neurocrine (NBIX) shares were as weak as they were coming out of the company’s JPMorgan Healthcare Conference presentation. Investors went into this conference with inflated expectations regarding biotech M&A, and it likely didn’t help matters any that Neurocrine management was once again cautious on sales guidance for Ingrezza in Q1’20.
Neurocrine is an interesting position now. The strong commercial success of Ingrezza is allowing the company to augment a so-so internal R&D effort with