Melqart Asset Management UK Ltd Increases Position in Indivior PLC $INDV

Melqart Asset Management UK Ltd increased its stake in shares of Indivior PLC (NASDAQ:INDV) by 268.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 616,863 shares of the company’s stock after buying an additional 449,324 shares during the period. Indivior comprises 2.0% of Melqart Asset Management UK Ltd’s portfolio, making the stock its 20th largest holding. Melqart Asset Management UK Ltd owned 0.45% of Indivior worth $14,873,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Indivior during the 2nd quarter valued at approximately $855,000. Federated Hermes Inc. acquired a new stake in shares of Indivior in the 3rd quarter worth approximately $8,120,000. Aberdeen Group plc purchased a new position in Indivior in the 3rd quarter valued at approximately $3,875,000. Pacer Advisors Inc. purchased a new position in Indivior in the 3rd quarter valued at approximately $9,086,000. Finally, Victory Capital Management Inc. acquired a new position in Indivior during the third quarter worth $19,437,000. 60.33% of the stock is owned by hedge funds and other institutional investors.

Indivior Stock Performance

INDV stock opened at $31.11 on Friday. The stock’s 50 day moving average price is $33.73 and its 200 day moving average price is $30.58. The firm has a market cap of $3.89 billion, a P/E ratio of 18.97 and a beta of 0.83. Indivior PLC has a 1 year low of $8.64 and a 1 year high of $38.00.

Indivior (NASDAQ:INDV) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. Indivior had a negative return on equity of 148.76% and a net margin of 16.85%.The company had revenue of $358.00 million during the quarter, compared to the consensus estimate of $305.62 million. On average, research analysts predict that Indivior PLC will post 1.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on INDV shares. Weiss Ratings upgraded Indivior from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Northland Securities set a $50.00 price target on Indivior in a research report on Tuesday, January 20th. Zacks Research downgraded Indivior from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 13th. Morgan Stanley reiterated an “overweight” rating and issued a $36.00 price objective on shares of Indivior in a research report on Wednesday, December 3rd. Finally, HC Wainwright increased their price objective on shares of Indivior from $35.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.33.

Insider Activity

In other news, Director Mark Stejbach bought 775 shares of Indivior stock in a transaction on Monday, January 5th. The shares were bought at an average cost of $35.39 per share, for a total transaction of $27,427.25. Following the acquisition, the director owned 16,847 shares in the company, valued at approximately $596,215.33. This trade represents a 4.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Keith Humphreys purchased 775 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were purchased at an average cost of $35.39 per share, for a total transaction of $27,427.25. Following the completion of the purchase, the director directly owned 5,802 shares in the company, valued at $205,332.78. The trade was a 15.42% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 5,842 shares of company stock worth $203,342 in the last quarter.

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.