Indivior (NASDAQ:INDV) Hits New 12-Month High After Strong Earnings

Indivior PLC (NASDAQ:INDV) reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $30.55 and last traded at $28.3560, with a volume of 691386 shares traded. The stock had previously closed at $25.24.

The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.25. Indivior had a negative return on equity of 86.28% and a net margin of 6.65%.The company had revenue of $302.00 million for the quarter, compared to the consensus estimate of $239.43 million.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on INDV. HC Wainwright lifted their price target on shares of Indivior from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday. Zacks Research downgraded shares of Indivior from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Craig Hallum boosted their target price on shares of Indivior from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. Jefferies Financial Group assumed coverage on Indivior in a report on Tuesday, July 22nd. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Indivior in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.60.

Hedge Funds Weigh In On Indivior

Several institutional investors have recently made changes to their positions in the stock. Two Seas Capital LP grew its holdings in shares of Indivior by 0.4% during the second quarter. Two Seas Capital LP now owns 11,407,795 shares of the company’s stock valued at $168,151,000 after purchasing an additional 41,018 shares during the last quarter. Goldman Sachs Group Inc. grew its stake 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 buying an additional 1,299,425 shares during the last quarter. Rubric Capital Management LP grew its stake in Indivior by 31.6% during the 2nd quarter. Rubric Capital Management LP now owns 4,647,179 shares of the company’s stock worth $68,499,000 after buying an additional 1,117,140 shares during the last quarter. Vanguard Group Inc. grew its stake 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 buying an additional 71,539 shares during the last quarter. Finally, Jefferies Financial Group Inc. grew its stake in Indivior by 47.9% during the 2nd quarter. Jefferies Financial Group Inc. now owns 2,190,274 shares of the company’s stock worth $32,544,000 after buying an additional 708,941 shares during the last quarter. 60.33% of the stock is owned by institutional investors.

Indivior Trading Up 15.4%

The firm’s 50-day moving average price is $24.14 and its 200 day moving average price is $18.00.

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.