Indivior (NASDAQ:INDV) Stock Price Up 6.8% Following Analyst Upgrade

Indivior PLC (NASDAQ:INDV - Get Free Report)'s stock price shot up 6.8% during trading on Monday after Craig Hallum raised their price target on the stock from $15.00 to $22.00. Craig Hallum currently has a buy rating on the stock. Indivior traded as high as $14.88 and last traded at $14.90. 1,097,421 shares were traded during trading, a decline of 9% from the average session volume of 1,206,198 shares. The stock had previously closed at $13.95.

Other equities analysts have also issued reports about the company. Piper Sandler cut their target price on Indivior from $16.00 to $13.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Wall Street Zen upgraded shares of Indivior from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Three 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 $17.00.

Institutional Investors Weigh In On Indivior

A number of hedge funds have recently made changes to their positions in INDV. GF Fund Management CO. LTD. acquired a new stake in Indivior in the fourth quarter worth $36,000. Lazard Asset Management LLC acquired a new stake in Indivior in the 4th quarter valued at approximately $57,000. Schaper Benz & Wise Investment Counsel Inc. WI acquired a new stake in shares of Indivior in the first quarter valued at approximately $95,000. Cannon Global Investment Management LLC acquired a new position in Indivior during the first quarter worth $95,000. Finally, CTC Alternative Strategies Ltd. bought a new position in Indivior in the first quarter valued at $96,000. Institutional investors and hedge funds own 60.33% of the company's stock.

Indivior Stock Performance

The firm's 50-day simple moving average is $12.60 and its 200 day simple moving average is $11.21.

Indivior (NASDAQ:INDV - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.41 EPS 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 business had revenue of $266.00 million during the quarter, compared to analysts' expectations of $240.13 million. On average, sell-side analysts anticipate that Indivior PLC will post 1.22 earnings per share for the current fiscal year.

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.