Indivior (NASDAQ:INDV) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised Indivior’s price target from $43 to $45 and maintained an “overweight” rating, implying 31.29% upside from the prior close. The analyst consensus remains “Buy,” with an average target of $45.50.
• Indivior shares fell 1.3% to $34.27 during Wednesday trading. The company has a market capitalization of approximately $4.05 billion and a P/E ratio of 12.27.
• Institutional investors own 60.33% of Indivior, while several funds increased their positions during the third quarter. A company chief accounting officer also purchased 1,500 shares, valued at about $53,535.

Indivior (NASDAQ:INDV - Get Free Report) had its price target upped by equities research analysts at Barclays from $43.00 to $45.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price objective suggests a potential upside of 31.29% from the stock's previous close.

Several other analysts also recently commented on the stock. Craig Hallum reiterated a "buy" rating and issued a $53.00 target price on shares of Indivior in a report on Tuesday, August 4th. Zacks Research raised shares of Indivior from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 2nd. Finally, Weiss Ratings cut shares of Indivior from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $45.50.

Indivior Trading Down 1.3%

Indivior stock traded down $0.45 during trading on Wednesday, hitting $34.27. 384,430 shares of the company were exchanged, compared to its average volume of 2,202,826. The business's 50 day moving average is $35.41 and its 200 day moving average is $35.62. Indivior has a 52 week low of $24.74 and a 52 week high of $42.81. The company has a market capitalization of $4.05 billion, a P/E ratio of 12.27 and a beta of 0.87.

Indivior (NASDAQ:INDV - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported $5.75 EPS for the quarter. The company had revenue of $343.00 million during the quarter. Equities analysts expect that Indivior will post 3.66 EPS for the current year.

Insider Buying and Selling at Indivior

In related news, CAO Woodrow D. Anderson bought 1,500 shares of Indivior stock in a transaction dated Thursday, August 27th. The stock was purchased at an average cost of $35.69 per share, with a total value of $53,535.00. Following the transaction, the chief accounting officer directly owned 27,638 shares of the company's stock, valued at approximately $986,400.22. The trade was a 5.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.74% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Indivior

Hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. lifted its stake in Indivior by 11.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 21,533 shares of the company's stock valued at $788,000 after purchasing an additional 2,129 shares during the last quarter. Sterling Capital Management LLC grew its holdings in Indivior by 482.1% during the third quarter. Sterling Capital Management LLC now owns 3,772 shares of the company's stock valued at $135,000 after purchasing an additional 3,124 shares during the period. Nisa Investment Advisors LLC grew its holdings in Indivior by 831.9% during the third quarter. Nisa Investment Advisors LLC now owns 20,642 shares of the company's stock valued at $740,000 after purchasing an additional 18,427 shares during the period. Assenagon Asset Management S.A. increased its position in Indivior by 129.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,540,344 shares of the company's stock worth $126,921,000 after buying an additional 1,999,416 shares during the last quarter. Finally, Avior Wealth Management LLC purchased a new stake in Indivior in the third quarter worth $272,000. Institutional investors own 60.33% of the company's stock.

About Indivior

Indivior PLC NASDAQ: INDV is a global pharmaceutical company focused on developing and commercializing medicines for substance use disorders and serious mental health conditions. Its portfolio is centered on treatments for opioid use disorder, opioid overdose, and related medical needs.

The company's principal products include Sublocade, an extended-release buprenorphine injection for opioid use disorder; Suboxone, a buprenorphine and naloxone treatment available in film and other formulations; and Opvee, a nalmefene nasal spray intended for the emergency treatment of known or suspected opioid overdose.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.