Indivior (NASDAQ:INDV) Reaches New 52-Week High - Here's Why

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 share price reached a new 52-week high on Monday . The company traded as high as $22.45 and last traded at $21.98, with a volume of 2192955 shares changing hands. The stock had previously closed at $22.05.

Analyst Ratings Changes

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

Indivior Stock Up 1.3%

The company's fifty day moving average price is $16.79 and its two-hundred day moving average price is $12.62.

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

Hedge Funds Weigh In On Indivior

A number of hedge funds have recently bought and sold shares 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 valued at $110,418,000 after purchasing an additional 3,790,518 shares in the last quarter. Geode Capital Management LLC raised its holdings in Indivior by 1,122.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,576,915 shares of the company's stock worth $23,244,000 after purchasing an additional 1,447,939 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Indivior by 18.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,996 shares of the company's stock valued at $79,757,000 after acquiring an additional 1,299,425 shares in the last quarter. Rubric Capital Management LP increased its stake in Indivior by 31.6% during the 2nd quarter. Rubric Capital Management LP now owns 4,647,179 shares of the company's stock valued at $68,499,000 after purchasing an additional 1,117,140 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Indivior by 2,597.9% during the 1st quarter. Jane Street Group LLC now owns 995,013 shares of the company's stock valued at $9,327,000 after purchasing an additional 958,132 shares in the last quarter. 60.33% of the stock is owned by institutional investors.

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.