Indivior (NASDAQ:INDV) Hits New 1-Year High - What's Next?

Key Points

• Indivior PLC's share price recently reached a new 52-week high of $22.45, with a last traded price of $21.98 and significant trading volume of over 2.1 million shares.
• The company reported earnings per share of $0.51 for the last quarter, surpassing analysts' expectations of $0.26, along with a revenue of $302 million compared to the estimated $239.43 million.
• Multiple analysts have upgraded Indivior's rating, with a consensus rating of "Buy" and a target price of approximately $19.60, reflecting positive sentiment in the market.

Indivior PLC (NASDAQ:INDV - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $22.45 and last traded at $21.98, with a volume of 2192955 shares. The stock had previously closed at $22.05.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on INDV. HC Wainwright began coverage on Indivior in a research report on Wednesday, August 6th. They set a "buy" rating and a $27.00 price target on the stock. Jefferies Financial Group initiated coverage on Indivior in a report on Tuesday, July 22nd. They set a "buy" rating and a $20.00 target price on the stock. Craig Hallum boosted their target price on Indivior from $15.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Finally, Wall Street Zen raised Indivior from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $19.60.

Indivior Stock Up 0.3%

The company has a 50 day moving average of $16.23 and a 200-day moving average of $12.39.

Indivior (NASDAQ:INDV - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.25. Indivior had a negative return on equity of 86.28% and a net margin of 6.65%. The firm had revenue of $302.00 million during the quarter, compared to the consensus estimate of $239.43 million. On average, equities analysts predict that Indivior PLC will post 1.22 earnings per share for the current fiscal year.

Institutional Trading of Indivior

Several institutional investors and hedge funds have recently modified their holdings of the business. Deerfield Management Company L.P. Series C lifted its position in shares of Indivior by 74.4% during 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 position in shares of Indivior by 18.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,996 shares of the company's stock worth $79,757,000 after buying an additional 1,299,425 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Indivior by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 4,631,221 shares of the company's stock worth $43,765,000 after buying an additional 71,539 shares during the last quarter. Jefferies Financial Group Inc. lifted its position in shares of Indivior by 47.9% during the 2nd quarter. Jefferies Financial Group Inc. now owns 2,190,274 shares of the company's stock worth $32,544,000 after buying an additional 708,941 shares during the last quarter. Finally, Newtyn Management LLC lifted its position in shares of Indivior by 17.4% during the 1st quarter. Newtyn Management LLC now owns 1,650,938 shares of the company's stock worth $15,733,000 after buying an additional 244,407 shares during the last quarter. 60.33% of the stock is currently owned by institutional investors.

Indivior Company Profile

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.