Indivior (NASDAQ:INDV) Sets New 52-Week High - Still a Buy?

Indivior PLC (NASDAQ:INDV - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as $15.58 and last traded at $16.09, with a volume of 2981689 shares trading hands. The stock had previously closed at $15.40.

Analyst Ratings Changes

INDV has been the subject of a number of research analyst reports. Wall Street Zen raised Indivior from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Craig Hallum boosted their target price on Indivior from $15.00 to $22.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $17.00.

Indivior Stock Performance

The business has a 50 day simple moving average of $12.79 and a 200-day simple moving average of $11.26.

Indivior (NASDAQ:INDV - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.19. Indivior had a negative return on equity of 97.29% and a negative net margin of 4.02%. The firm had revenue of $266.00 million for the quarter, compared to the consensus estimate of $240.13 million. Equities research analysts expect that Indivior PLC will post 1.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Indivior

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Deerfield Management Company L.P. Series C boosted its stake in shares of Indivior by 74.4% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 8,883,160 shares of the company's stock worth $110,418,000 after buying an additional 3,790,518 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Indivior by 18.4% in the first quarter. Goldman Sachs Group Inc. now owns 8,368,996 shares of the company's stock valued at $79,757,000 after purchasing an additional 1,299,425 shares during the last quarter. Vanguard Group Inc. lifted its stake in Indivior by 1.6% in the first quarter. Vanguard Group Inc. now owns 4,631,221 shares of the company's stock valued at $43,765,000 after purchasing an additional 71,539 shares during the last quarter. Newtyn Management LLC lifted its stake in Indivior by 17.4% in the first quarter. Newtyn Management LLC now owns 1,650,938 shares of the company's stock valued at $15,733,000 after purchasing an additional 244,407 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Indivior by 36.9% in the fourth quarter. Millennium Management LLC now owns 1,233,006 shares of the company's stock valued at $15,326,000 after purchasing an additional 332,180 shares during the last quarter. Hedge funds and other institutional investors own 60.33% of the company's stock.

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.