Summers Value Partners, an investment management company, released its fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. The Summers Value Fund LP returned a net1 return of 27.4% in 2024 outperforming 11.3% return for its primary benchmark, the Russell 2000 Index ETF (IWM). The fund also outperformed its secondary benchmark, the Russell 2000 Value Index ETF (IWN), which returned 7.7% for the year. The Fund achieved profitability on both the long and short positions in its portfolio throughout the year. In addition, you can check the fund’s top 5 holdings to find out its best picks for 2024.
Summers Value Partners highlighted stocks like Indivior PLC (NASDAQ:INDV) in the fourth quarter 2024 investor letter. Indivior PLC (NASDAQ:INDV) engages in the development of buprenorphine-based prescription drugs for treatment of opioid dependence. The one-month return of Indivior PLC (NASDAQ:INDV) was -2.32%, and its shares lost 30.33% of their value over the last 52 weeks. On January 30, 2024, Indivior PLC (NASDAQ:INDV) stock closed at $12.20 per share with a market capitalization of $1.516 billion.
Summers Value Partners stated the following regarding Indivior PLC (NASDAQ:INDV) in its Q4 2024 investor letter:
“Indivior PLC (NASDAQ:INDV) In October, we established a position in Indivior after the company reduced its sales forecast for Sublocade, a long-acting buprenorphine drug for the treatment of opioid addiction. Management lowered sales guidance due to greater-than-expected competition from Braeburn’s (private) drug, Brixadi. Our thesis is that Sublocade’s weakness would prove temporary as Indivior has filed a supplemental new drug application (sNDA) for an improved dosing regimen. We believe this new dosing regimen will level the playing field with Brixadi, and we expect approval of the sNDA in February. Long-acting agents for treating opioid addiction remain vastly underpenetrated, accounting for just 5-6% of prescriptions in the category. We expect these drugs to play a larger role in treating addiction patients in the future, given their superior compliance profile. Our position in Indivior was accumulated at an average cost of $7.74 per share, representing 10x the expected earnings per share for the year.”
A pharmacist showing a patient a green sublingual film formulation with buprenorphine and naloxone.
Indivior PLC (NASDAQ:INDV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held Indivior PLC (NASDAQ:INDV) at the end of the third quarter which was 21 in the previous quarter. While we acknowledge the potential of Indivior PLC (NASDAQ:INDV) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.