State of New Jersey Common Pension Fund D Raises Stock Position in Indivior PLC $INDV

Key Points

• State of New Jersey Common Pension Fund D increased its Indivior stake by 127% in the fourth quarter, ending with 53,282 shares worth about $1.91 million.
• Institutional interest in Indivior remains high, with hedge funds and other investors owning about 60.33% of the stock and several firms adding new positions recently.
• Analyst sentiment is mostly positive: the stock has an average Buy rating and a consensus price target of $39.33, while the shares recently traded near $39.50 after the company reported quarterly EPS of $0.96 and revenue of $317 million.

State of New Jersey Common Pension Fund D grew its stake in Indivior PLC (NASDAQ:INDV - Free Report) by 127.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,282 shares of the company's stock after purchasing an additional 29,810 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Indivior were worth $1,912,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of INDV. CWM LLC bought a new position in Indivior in the third quarter worth about $25,000. Quarry LP bought a new stake in Indivior during the 3rd quarter valued at approximately $26,000. Raymond James Financial Inc. purchased a new position in shares of Indivior during the 2nd quarter worth approximately $26,000. Salomon & Ludwin LLC purchased a new position in shares of Indivior during the 4th quarter worth approximately $30,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of Indivior by 309.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,033 shares of the company's stock worth $37,000 after acquiring an additional 781 shares in the last quarter. 60.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on INDV. Weiss Ratings lowered Indivior from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday. Northland Securities set a $50.00 price target on Indivior in a report on Tuesday, January 20th. HC Wainwright boosted their price objective on shares of Indivior from $35.00 to $48.00 and gave the stock a "buy" rating in a report on Monday, January 12th. Finally, Zacks Research raised Indivior from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Indivior presently has an average rating of "Buy" and a consensus price target of $39.33.

Insider Transactions at Indivior

In related news, Director Stuart A. Kingsley purchased 940 shares of the business's stock in a transaction on Friday, March 6th. The stock was acquired at an average price of $31.86 per share, with a total value of $29,948.40. Following the completion of the acquisition, the director owned 5,582 shares of the company's stock, valued at approximately $177,842.52. This trade represents a 20.25% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.74% of the company's stock.

Indivior Stock Performance

INDV opened at $39.50 on Monday. Indivior PLC has a 12-month low of $10.63 and a 12-month high of $41.00. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 20.26 and a beta of 0.90. The company's 50 day moving average is $32.24 and its 200 day moving average is $32.85.

Indivior (NASDAQ:INDV - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.96 earnings per share for the quarter. The business had revenue of $317.00 million for the quarter. Indivior had a net margin of 19.44% and a negative return on equity of 219.26%. As a group, analysts predict that Indivior PLC will post 3.35 EPS for the current fiscal year.

Indivior Company 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.

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