Huron to Join S&P SmallCap 600 on November 3 After Addition Date Revised

Key Facts

Huron Consulting Group will join the S&P SmallCap 600 before trading opens on Tuesday, November 3, 2026, replacing Supernus Pharmaceuticals, after S&P Dow Jones Indices revised the change date from November 2. The company said in an update published via PR Newswire that the revision followed the announcement of the date on which the stock would trade ex-dividend for the merger-related special cash distribution. The new addition date comes after the expected November 2 closing of the merger. Under this arrangement, SUPN will be removed from the index before the merged entity returns to it as Supernus Inc., trading under the symbol SUPN. The addition date also coincides with Huron’s announcement of third-quarter results after the market closes.

The reconstitution notice says Huron will join the Industrials sector, while Supernus is classified in Health Care, according to GICS. The change reflects Supernus’s exit from the index in connection with the merger’s completion, not the permanent disappearance of its name from the list of companies included in it. After the closing, Indivior Pharmaceuticals will take the name Supernus Inc. and trade on Nasdaq under the symbol SUPN, while remaining in the S&P SmallCap 600. Supernus’s removal on November 3 is therefore part of a transition tied to the timing of the deal and the special distribution. S&P’s wording indicates that the change concerns index membership, the name and the symbol following the merger.

Indivior shareholders approved the proposed merger with Supernus on October 15, 2026, with 94% of votes cast in favor. Indivior said the all-stock merger of equals was expected to close on November 2. Under the announced terms, Supernus shareholders will receive 1.5401 Indivior shares for each Supernus share they own. The terms show that shareholder consideration is based on a share exchange, while the deal also includes a special cash distribution to Indivior shareholders before closing. These elements tie the index reconstitution date directly to the merger and distribution schedule.

The merger announcement estimated combined annual revenue for the resulting company at about $2.2 billion and projected annual cost savings of $125 million. The deal includes a total special cash distribution of $1.0 billion to Indivior shareholders before closing, financed by a $650 million term loan commitment. Indivior announced a distribution contingent on completion of the merger of $8.13 per share, which was expected to be paid to eligible shareholders around November 6 if the merger closed on November 2. The ex-dividend date explains why Huron’s addition date was revised, according to S&P Dow Jones Indices. Closing was still expected on November 2, according to the shareholder approval statement.

In the latest price data provided for October 27, Huron shares closed at $195.8, while SUPN shares closed at $40.96. Huron shares had risen 2.9% in after-hours trading on Thursday following the initial announcement on October 22 that it would be added to the index, before the date was later revised. That move was tied to the initial announcement, while the October 28 update changed only the effective date of the addition. No documented price for Indivior shares was provided in the price data available for this report. The closing figures show the two stocks’ levels on the specified date, alongside the recorded reaction after the initial addition announcement.

Huron is set to report results for the third quarter ended September 30 after the market closes on November 3, according to its investor relations calendar. The company scheduled a results discussion call for the same day at 5 p.m. Eastern Time. Its revenue before reimbursable expenses rose 15.7% in the second quarter to a record $465.6 million, from $402.5 million in the same period of 2025. Huron also raised its 2026 revenue guidance before reimbursable expenses to a range of $1.85–$1.89 billion. It forecast an adjusted EBITDA margin of 14.5%–15.0% and adjusted diluted earnings per share of $9.00–$9.40.