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

Indivior PLC (NASDAQ:INDV) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $15.58 and last traded at $16.09, with a volume of 2981689 shares trading hands. The stock had previously closed at $15.40.

Analyst Upgrades and Downgrades

INDV has been the subject of several research reports. Wall Street Zen raised shares of Indivior from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 21st. Craig Hallum lifted their price target on shares of Indivior from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, June 30th. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Indivior currently has a consensus rating of “Buy” and a consensus price target of $17.00.

Indivior Price Performance

The firm’s 50-day moving average is $12.79 and its 200-day moving average is $11.27.

Indivior (NASDAQ:INDV) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.19. The firm had revenue of $266.00 million for the quarter, compared to the consensus estimate of $240.13 million. Indivior had a negative net margin of 4.02% and a negative return on equity of 97.29%. Equities analysts forecast that Indivior PLC will post 1.22 earnings per share for the current year.

Hedge Funds Weigh In On Indivior

A number of hedge funds have recently bought and sold shares of the company. Deerfield Management Company L.P. Series C boosted its holdings in Indivior by 74.4% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 8,883,160 shares of the company’s stock worth $110,418,000 after acquiring an additional 3,790,518 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Indivior by 18.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,996 shares of the company’s stock worth $79,757,000 after acquiring an additional 1,299,425 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Indivior by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 4,631,221 shares of the company’s stock worth $43,765,000 after acquiring an additional 71,539 shares during the last quarter. Newtyn Management LLC boosted its holdings in Indivior by 17.4% during the 1st quarter. Newtyn Management LLC now owns 1,650,938 shares of the company’s stock worth $15,733,000 after acquiring an additional 244,407 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Indivior by 36.9% during the 4th quarter. Millennium Management LLC now owns 1,233,006 shares of the company’s stock worth $15,326,000 after acquiring an additional 332,180 shares during the last quarter. 60.33% of the stock is owned by hedge funds and other institutional investors.

About Indivior

Indivior PLC, together with its subsidiaries, engages in the development, manufacture, and sale of buprenorphine-based prescription drugs for the treatment of opioid dependence and co-occurring disorders in the United States, the United Kingdom, and internationally. The company develops medicines to treat substance use disorders, serious mental illnesses, and opioid overdose.