Indivior (INDV) Jumps to New High on Earnings Blowout, Optimistic Outlook

We recently published 10 Stocks with Outstanding Gains; 9 on Record Highs. Indivior PLC (NASDAQ:INDV) is one of the best-performing stocks on Thursday.

Indivior climbed for a third straight day on Thursday to reach a new all-time high, as investors cheered a stellar earnings performance and a highly optimistic business outlook for the rest of the year.

At intra-day trade, the stock soared to its highest 52-week price of $30.55 before paring gains to end the day just up by 15.41 percent at $29.13 apiece.

In an updated report, Indivior PLC (NASDAQ:INDV) said it grew its net income by 91 percent to $42 million from $20 million in the same period last year, as net revenues inched up by 2.3 percent to $314 million from $307 million year-on-year.

The figures put the company at a $108 million net income in the first nine months of the year, reversing a $14 million net loss in the same period a year earlier. However, revenues dipped by nearly 1 percent to $881 million from $889 million year-on-year.

Following the results, Indivior PLC (NASDAQ:INDV) raised its full-year revenue growth guidance to a range of $1.18 billion to $1.22 billion from $1.03 billion to $1.08 billion previously.

Revenues from its Sublocade treatment alone are expected to rake in between $825 million and $845 million, higher than the $765 million to $785 million previously targeted.

Adjusted EBITDA outlook was also upgraded to $400 million to $420 million, versus $275 million to $300 million prior.

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Disclosure: None. This article is originally published at Insider Monkey.