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

Key Points

• Shares of Indivior hit a new 52-week high after an earnings beat — the company reported $0.96 EPS on $317.0M revenue and the stock traded as high as $38.73 (up about 12.1% from the prior close of $34.15).
• Analysts have grown more positive: Zacks upgraded to a Strong Buy, HC Wainwright raised its target to $48, and the MarketBeat consensus rating is a Buy with a $39.33 target price.
• Insiders and institutions increased exposure—Director Stuart A. Kingsley bought 940 shares at $31.86, and hedge funds/institutions now own about 60.33% of the stock after several funds boosted or initiated positions.

Shares of Indivior PLC (NASDAQ:INDV - Get Free Report) hit a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $38.73 and last traded at $38.6590, with a volume of 3386315 shares traded. The stock had previously closed at $34.15.

The company reported $0.96 earnings per share (EPS) for the quarter. The firm had revenue of $317.00 million for the quarter. Indivior had a negative return on equity of 148.76% and a net margin of 16.85%.

Analyst Ratings Changes

Several brokerages have weighed in on INDV. Zacks Research raised Indivior from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 16th. Northland Securities set a $50.00 price target on Indivior in a research report on Tuesday, January 20th. Weiss Ratings cut Indivior from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, March 17th. Finally, HC Wainwright raised their target price on Indivior from $35.00 to $48.00 and gave the company a "buy" rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $39.33.

Insiders Place Their Bets

In related news, Director Stuart A. Kingsley purchased 940 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The shares were purchased at an average cost of $31.86 per share, with a total value of $29,948.40. Following the purchase, the director owned 5,582 shares of the company's stock, valued at $177,842.52. This represents a 20.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.74% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. raised its holdings in Indivior by 43.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 317,600 shares of the company's stock valued at $11,395,000 after acquiring an additional 96,177 shares during the last quarter. Federated Hermes Inc. acquired a new stake in Indivior in the 3rd quarter valued at about $8,120,000. Aberdeen Group plc acquired a new stake in Indivior in the 3rd quarter valued at about $3,875,000. Victory Capital Management Inc. acquired a new stake in Indivior in the 3rd quarter valued at about $19,437,000. Finally, Claret Asset Management Corp raised its holdings in Indivior by 5.4% in the 3rd quarter. Claret Asset Management Corp now owns 784,588 shares of the company's stock valued at $18,916,000 after acquiring an additional 40,306 shares during the last quarter. 60.33% of the stock is owned by hedge funds and other institutional investors.

Indivior Trading Up 12.1%

The company has a market cap of $4.67 billion, a price-to-earnings ratio of 23.40 and a beta of 0.88. The stock's fifty day simple moving average is $31.79 and its 200 day simple moving average is $32.38.

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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