New York State Common Retirement Fund Purchases New Position in Indivior PLC (NASDAQ:INDV)

Key Points

• The New York State Common Retirement Fund acquired a new stake in Indivior PLC, purchasing 30,960 shares valued at approximately $295,000 during the first quarter.
• Indivior reported a quarterly earnings per share (EPS) of $0.41, surpassing the consensus estimate of $0.22, with total revenue of $266 million.
• Several analysts have given a buy rating to Indivior and set a price target ranging from $20 to $22, indicating positive investor sentiment about the stock's potential performance.

New York State Common Retirement Fund purchased a new stake in shares of Indivior PLC (NASDAQ:INDV - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 30,960 shares of the company's stock, valued at approximately $295,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INDV. Cannon Global Investment Management LLC purchased a new stake in shares of Indivior in the first quarter worth $95,000. Schaper Benz & Wise Investment Counsel Inc. WI purchased a new stake in Indivior in the 1st quarter worth approximately $95,000. Hennion & Walsh Asset Management Inc. raised its stake in Indivior by 48.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 142,444 shares of the company's stock worth $1,357,000 after acquiring an additional 46,509 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Indivior during the 4th quarter valued at $36,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Indivior by 32.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 39,370 shares of the company's stock worth $505,000 after acquiring an additional 9,576 shares during the period. 60.33% of the stock is owned by hedge funds and other institutional investors.

Indivior Price Performance

Shares of INDV opened at $17.14 on Friday. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -55.29 and a beta of 0.65. Indivior PLC has a 1 year low of $7.33 and a 1 year high of $17.25. The business's 50 day simple moving average is $14.13 and its 200-day simple moving average is $11.65.

Indivior (NASDAQ:INDV - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.22 by $0.19. Indivior had a negative net margin of 4.02% and a negative return on equity of 97.29%. The business had revenue of $266.00 million during the quarter, compared to analyst estimates of $240.13 million. On average, sell-side analysts expect that Indivior PLC will post 1.22 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Jefferies Financial Group initiated coverage on Indivior in a research note on Tuesday, July 22nd. They set a "buy" rating and a $20.00 target price on the stock. Craig Hallum raised their target price on shares of Indivior from $15.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Finally, Wall Street Zen upgraded shares of Indivior from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $17.75.

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.

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