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Indivior
(NASDAQ:INDV)
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Rating:62Neutral
Price Target:
$42.00
▲(3.65% Upside)
Action:Downgraded
Date:08/03/26
The score is primarily held back by financial statement quality—negative equity and weak recent cash conversion—despite strong profitability. Offsetting this, the latest earnings call was notably positive with raised guidance, strong SUBLOCADE-driven execution, and actions improving financing costs and shareholder returns. Technically the stock remains in a longer-term uptrend, while valuation (P/E ~19.9) is moderate with no dividend support provided.
Positive Factors
Leading OUD franchise (SUBLOCADE)
SUBLOCADE shows sustained, durable commercial adoption with accelerating dispense-unit growth and rising prescriber counts. A large and growing installed base (new patient starts and cumulative patients) supports recurring revenue, payer coverage momentum and long-term market share in OUD therapy.
Negative Factors
Negative stockholders' equity
Negative equity is a structural balance-sheet shortcoming that can constrain strategic flexibility, complicate capital raises and distort leverage metrics. It increases sensitivity to downside events and may limit covenant relief or equity-based financing options over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Leading OUD franchise (SUBLOCADE)
SUBLOCADE shows sustained, durable commercial adoption with accelerating dispense-unit growth and rising prescriber counts. A large and growing installed base (new patient starts and cumulative patients) supports recurring revenue, payer coverage momentum and long-term market share in OUD therapy.
Read all positive factors
Indivior (INDV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.88B
Dividend YieldN/A
Average Volume (3M)1.70M
Price to Earnings (P/E)19.9
Beta (1Y)0.70
Revenue Growth10.34%
EPS GrowthN/A
CountryUS
Employees838
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)2.01
Shares Outstanding121,922,060
10 Day Avg. Volume1,540,079
30 Day Avg. Volume1,702,991
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)-45.77
Price to Sales (P/S)3.62
P/FCF Ratio-48.23
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$52.50Price Target Upside29.57% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)3.73
Revenue Forecast (FY)$1.26B
Indivior Business Overview & Revenue Model
Company Description
Indivior Pharmaceuticals Inc. operates as a holding company, primarily engaged in the research, production, and distribution of buprenorphine-based prescription medications designed to treat opioid dependence. Its product lineup features key pharm...
How the Company Makes Money
Indivior makes money primarily by selling prescription medicines, with revenue recognized from product sales to wholesalers, specialty distributors, and other customers in markets where it has commercialization rights. The largest revenue stream i...
Indivior Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call emphasized strong commercial execution and substantial financial improvement driven by SUBLOCADE (double-digit revenue growth, 20% dispense unit growth, record adjusted EBITDA up 112% and raised 2026 guidance). It also announced disciplined capital actions that improve the balance sheet and return capital to shareholders. Offsetting these positives were setbacks in early-stage R&D (INDV-6001 and INDV-2000 not advancing internally), expected gross-to-net pressure for 2026, and ongoing reliance on SUBLOCADE for growth. On balance, the favorable commercial and financial momentum and upgraded guidance materially outweigh the program setbacks and known headwinds.Positive Updates
Strong Top-Line Growth
Total net revenue grew 19% year-over-year to $317 million in Q1 2026.
Negative Updates
INDV-6001 Program Decision
Indivior will not advance INDV-6001 into Phase III; Alar Pharmaceuticals regains development rights and commercialization outside the U.S. Cited challenges include manufacturing scalability, limited anticipated payer/prescriber differentiation, and need for a more complex induction protocol versus SUBLOCADE.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Top-Line Growth
Total net revenue grew 19% year-over-year to $317 million in Q1 2026.
Read all positive updates
Company Guidance
Management raised 2026 guidance to total net revenue of $1.215–$1.285 billion (midpoint $1.25B, ~+1% vs 2025), with SUBLOCADE net revenue now guided to $950–$990 million (midpoint $970M, +13% YoY) driven by planned mid‑teens dispense‑unit growth in 2026 (vs 7% in 2025); adjusted EBITDA is guided to $620–$660 million (midpoint $640M, +50% YoY) implying a ~51% margin at the midpoint (up ~16 percentage points vs 2025), operating expenses $430–$450 million, and expected cash flow from operations of approximately $340 million. They ended Q1 with $201 million of gross cash and investments, project forward leverage of ~0.8x (midpoint), completed a $500 million convertible note due 2031 (used to repay a $333 million term loan and reduce interest to 0.625% from 9.5%), repurchased 4 million shares for $125 million at an average $31.45 (leaving roughly $275 million on the $400 million buyback), expect full‑year gross margins in the mid‑80s, and noted a $14 million prior‑year gross‑to‑net release in Q1 but cautioned gross‑to‑net adjustments will be a headwind in 2026.Indivior Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
34
Negative
Cash Flow
27
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.29B | 1.24B | 1.19B | 1.09B | 901.00M | 791.00M |
| Gross Profit | 1.07B | 993.00M | 957.00M | 919.00M | 750.00M | 664.00M |
| EBITDA | 352.00M | 304.00M | 84.00M | -99.00M | -46.00M | 238.00M |
| Net Income | 251.00M | 210.00M | 2.00M | -129.00M | -44.00M | 205.00M |
Balance Sheet | ||||||
| Total Assets | 1.20B | 1.20B | 1.32B | 1.76B | 1.78B | 1.83B |
| Cash, Cash Equivalents and Short-Term Investments | 175.00M | 195.00M | 320.00M | 410.00M | 897.83M | 1.10B |
| Total Debt | 509.00M | 351.00M | 375.00M | 283.00M | 277.00M | 286.00M |
| Total Liabilities | 1.34B | 1.30B | 1.67B | 1.96B | 1.73B | 1.63B |
| Stockholders Equity | -144.00M | -98.00M | -348.00M | -191.00M | 51.28M | 203.00M |
Cash Flow | ||||||
| Free Cash Flow | -184.62M | -93.00M | 7.00M | -353.00M | -9.00M | 319.00M |
| Operating Cash Flow | -102.96M | -27.00M | 36.00M | -300.00M | -4.00M | 353.00M |
| Investing Cash Flow | -81.69M | -66.00M | 69.00M | -95.00M | -222.00M | -14.00M |
| Financing Cash Flow | -5.63M | -30.00M | -102.00M | -64.00M | -101.00M | -94.00M |
Indivior Technical Analysis
Neutral
40.52
Price Trends
39.12
Positive
36.25
Positive
34.47
Positive
Market Momentum
0.41
Positive
54.85
Neutral
58.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INDV, the sentiment is Neutral. The current price of 40.52 is above the 20-day moving average (MA) of 40.42, above the 50-day MA of 39.12, and above the 200-day MA of 34.47, indicating a neutral trend. The MACD of 0.41 indicates Positive momentum. The RSI at 54.85 is Neutral, neither overbought nor oversold. The STOCH value of 58.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for INDV.
Indivior Risk Analysis
Indivior disclosed 22 risk factors in its most recent earnings report. Indivior reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Indivior Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $16.77B | 23.66 | 20.67% | ― | 34.42% | 102.44% | |
71 Outperform | $41.33B | 55.63 | 9.30% | ― | 4.33% | ― | |
69 Neutral | $1.15B | 14.93 | 26.74% | ― | 19.88% | 73.61% | |
66 Neutral | $2.59B | -87.27 | -2.73% | ― | 16.29% | -145.12% | |
63 Neutral | $5.85B | 37.58 | -327.25% | ― | 9.28% | 4917.17% | |
62 Neutral | $4.88B | 19.91 | -142.01% | ― | 10.34% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
INDV
Indivior
40.01
18.79
88.55%
NBIX
Neurocrine
166.80
38.76
30.27%
SUPN
Supernus Pharmaceuticals
44.63
7.58
20.46%
TEVA
Teva Pharmaceutical
35.01
19.32
123.14%
COLL
Collegium Pharmaceutical
35.39
4.30
13.83%
AMRX
Amneal Pharmaceuticals
18.32
10.36
130.15%
Indivior Corporate Events
Business Operations and StrategyDividendsM&A Transactions
Indivior and Supernus announce tax-free merger of equals
Positive
Aug 3, 2026
Indivior Pharmaceuticals, Inc. is a biopharmaceutical company focused on central nervous system disorders, particularly addiction treatment, while Supernus Pharmaceuticals, Inc. develops and commercializes CNS therapies in areas such as ADHD, post...
Business Operations and StrategyStock BuybackFinancial DisclosuresM&A Transactions
Indivior boosts outlook amid record SUBLOCADE-driven growth
Positive
Aug 3, 2026
Indivior reported on August 3, 2026, that second-quarter 2026 net revenue rose 14% year-on-year to $343 million, driven by a 21% increase in SUBLOCADE sales to a record $253 million and strong U.S. volume growth. The company posted record GAAP net...
Business Operations and StrategyExecutive/Board ChangesDividendsM&A TransactionsPrivate Placements and Financing
Indivior Announces Merger Agreement to Acquire Supernus
Positive
Aug 3, 2026
On August 1, 2026, Indivior and Artemis Merger Sub entered into a merger agreement with Supernus under which Merger Sub will be folded into Supernus, leaving Supernus as a wholly owned subsidiary of Indivior and creating a combined company renamed...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Indivior Eliminates Chief Scientific Officer Role, Realigns Leadership
Neutral
May 15, 2026
Indivior Pharmaceuticals, Inc. will eliminate the role of Chief Scientific Officer effective June 1, 2026, with current CSO Dr. Christian Heidbreder shifting to an advisory role on special projects reporting to the CEO through year-end and his emp...
Business Operations and StrategyStock Buyback
Indivior Announces $175 Million Accelerated Share Repurchase
Positive
May 4, 2026
On May 4, 2026, Indivior Pharmaceuticals, Inc. announced it had entered into a $175 million accelerated share repurchase agreement with Barclays Bank PLC under its existing $400 million buyback program, signaling confidence in its long-term strate...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.