Indivior (NASDAQ:INDV) Hits New 52-Week High – Here’s What Happened

Shares of Indivior PLC (NASDAQ:INDV) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $40.18 and last traded at $36.1340, with a volume of 1016 shares traded. The stock had previously closed at $35.88.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on INDV. Morgan Stanley reissued an “overweight” rating and set a $36.00 price objective on shares of Indivior in a report on Wednesday, December 3rd. Piper Sandler reissued an “overweight” rating and issued a $41.00 target price (up previously from $27.00) on shares of Indivior in a research note on Friday, October 31st. Zacks Research raised shares of Indivior from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Indivior in a research note on Friday, October 31st. Finally, HC Wainwright increased their target price on Indivior from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $32.71.

Indivior Stock Down 0.1%

The company has a market capitalization of $4.48 billion, a P/E ratio of 38.95 and a beta of 0.75. The business has a 50 day moving average of $33.03 and a 200 day moving average of $24.97.

Indivior (NASDAQ:INDV) last announced its earnings results on Thursday, October 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.34. The business had revenue of $314.00 million for the quarter, compared to the consensus estimate of $257.66 million. Indivior had a net margin of 9.83% and a negative return on equity of 90.79%. On average, research analysts anticipate that Indivior PLC will post 1.22 EPS for the current year.

Hedge Funds Weigh In On Indivior

Several institutional investors have recently made changes to their positions in INDV. Oaktree Capital Management LP raised its holdings in Indivior by 2,241.6% in the third quarter. Oaktree Capital Management LP now owns 257,785,398 shares of the company’s stock valued at $6,215,206,000 after acquiring an additional 246,776,273 shares in the last quarter. Two Seas Capital LP lifted its position in Indivior by 0.4% in the second quarter. Two Seas Capital LP now owns 11,407,795 shares of the company’s stock valued at $168,151,000 after acquiring an additional 41,018 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Indivior by 18.4% during the first quarter. Goldman Sachs Group Inc. now owns 8,368,996 shares of the company’s stock worth $79,757,000 after purchasing an additional 1,299,425 shares during the last quarter. Rubric Capital Management LP boosted its position in shares of Indivior by 31.6% in the 2nd quarter. Rubric Capital Management LP now owns 4,647,179 shares of the company’s stock valued at $68,499,000 after purchasing an additional 1,117,140 shares during the period. Finally, Newtyn Management LLC raised its position in Indivior by 61.1% in the 3rd quarter. Newtyn Management LLC now owns 4,200,000 shares of the company’s stock valued at $101,262,000 after purchasing an additional 1,592,982 shares during the last quarter. 60.33% of the stock is owned by hedge funds and other institutional investors.

About Indivior

Indivior plc is a specialty pharmaceutical company dedicated to developing and delivering treatments for addiction and related mental health disorders. The company’s portfolio centers on therapies designed to support individuals dealing with opioid dependence, alcohol use disorder and other behavioral health challenges. Its lead products include Suboxone® (buprenorphine and naloxone) sublingual film and Sublocade® (extended-release buprenorphine) injection, both of which are approved in multiple markets to aid in opioid use disorder management.

Indivior was established in 2014 through a demerger from the pharmaceuticals division of Reckitt Benckiser Group plc, inheriting decades of research and commercial expertise in addiction medicine.