I've never seen NBIX stock behave the way it has over the past few weeks. Yes, some of it is the general market downturn...BUT to continue trading down on big up-days, when all my other biotex (much more speculative than NBIX) are rallying is very suspicious. I think somebody 'in the know' is selling. Whether it's the buddies of the secretaries' husbands at the SEC or FDA or whatever.
To me it looks like manipulation so someone can get some shares on the cheap. If all is well with the Abbott collaboration (which is appears to be) then there is every chance to Phase II and Phase III's will start on time as planned. Once that happens NBIX is a player in late stage biotech again. They'll be on every radar screen and Abbott will of course try to acquire them if/when positive results are announced. This should be trading for twice as much as it is today. I think by the end of the year we'll be looking at a $8-9 stock as long as everything starts okay. If things go really well and the Phase III's are positive then you're looking at perhaps $25. The potential is so huge here..it's unusual. I've been in biotech long enough to know manipulation is alive and well.