Indivior weakness on delay a buying opportunity, says Northland

After Indivior (INDV) reported that the FDA informed the company that, following acceptance of the proposed label for Sublocade, there were no outstanding items to address, but that final review of the Sublocade label changes has been delayed from the PDUFA action date for label changes that had been scheduled for February 7, Northland said the firm “fully expects” the label expansion to receive FDA approval despite the announced delay. Given that view, the firm would use any weakness in the shares as a buying opportunity and keeps an Outperform rating and $16 price target on Indivior shares.