That the market expects ABBV/ENTA to get less than 38% of the GT1 market is clear not only from ENTA’s valuation, but also from a survey by ISI analyst, Mark Schoenbaum of the “buy side” in which the average forecast was a 23% share for ABBV/ENTA.
Of course, such disagreements are what makes a market.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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