Persistent Asset Partners Ltd Makes New $1.41 Million Investment in Indivior PLC $INDV

Persistent Asset Partners Ltd bought a new position in Indivior PLC (NASDAQ:INDV) in the 3rd quarter, Holdings Channel.com reports. The firm bought 58,409 shares of the company’s stock, valued at approximately $1,408,000. Indivior makes up 1.0% of Persistent Asset Partners Ltd’s portfolio, making the stock its 29th biggest holding.

Several other hedge funds have also modified their holdings of INDV. CWM LLC acquired a new position in Indivior in the third quarter worth about $25,000. Raymond James Financial Inc. acquired a new stake in Indivior during the second quarter valued at approximately $26,000. Plato Investment Management Ltd bought a new position in Indivior during the 3rd quarter worth approximately $52,000. Amalgamated Bank bought a new position in Indivior during the second quarter worth $61,000. Finally, Blue Trust Inc. acquired a new position in shares of Indivior in the 3rd quarter valued at about $99,000. 60.33% of the stock is currently owned by hedge funds and other institutional investors.

Indivior Stock Up 0.2%

Shares of NASDAQ:INDV opened at $34.44 on Friday. The firm has a fifty day moving average of $34.81 and a two-hundred day moving average of $29.52. Indivior PLC has a 12-month low of $7.62 and a 12-month high of $38.00. The firm has a market capitalization of $4.31 billion, a P/E ratio of 37.43 and a beta of 0.80.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Craig Hallum restated a “buy” rating and set a $41.00 price objective on shares of Indivior in a research report on Friday, October 31st. Zacks Research cut Indivior from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Northland Securities set a $50.00 price objective on shares of Indivior in a research note on Tuesday, January 20th. Piper Sandler reaffirmed an “overweight” rating and set a $41.00 target price (up from $27.00) on shares of Indivior in a research report on Friday, October 31st. Finally, HC Wainwright upped their price target on shares of Indivior from $35.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $39.33.

Insider Activity

In other news, Director Mark Stejbach purchased 775 shares of Indivior stock in a transaction dated Monday, January 5th. The stock was acquired at an average cost of $35.39 per share, for a total transaction of $27,427.25. Following the acquisition, the director directly owned 16,847 shares in the company, valued at $596,215.33. This represents a 4.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David E. Wheadon purchased 1,771 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was purchased at an average cost of $35.39 per share, with a total value of $62,675.69. Following the purchase, the director owned 14,395 shares in the company, valued at $509,439.05. This represents a 14.03% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 4,871 shares of company stock valued at $172,385.

Indivior Profile

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.