Deerfield Management Company L.P. Series C Raises Stake in Indivior PLC (NASDAQ:INDV)

Deerfield Management Company L.P. Series C grew its holdings in Indivior PLC (NASDAQ:INDV - Free Report) by 74.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,883,160 shares of the company's stock after buying an additional 3,790,518 shares during the quarter. Indivior accounts for 2.1% of Deerfield Management Company L.P. Series C's investment portfolio, making the stock its 14th largest position. Deerfield Management Company L.P. Series C owned about 6.44% of Indivior worth $110,418,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Jane Street Group LLC acquired a new stake in shares of Indivior in the third quarter valued at approximately $180,000. Geode Capital Management LLC boosted its holdings in Indivior by 7.7% in the third quarter. Geode Capital Management LLC now owns 132,239 shares of the company's stock valued at $1,289,000 after purchasing an additional 9,500 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Indivior during the fourth quarter worth about $1,192,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Indivior in the 4th quarter valued at $359,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Indivior during the fourth quarter worth $56,000. 60.33% of the stock is owned by institutional investors and hedge funds.

Indivior Price Performance

NASDAQ:INDV traded down $0.12 on Tuesday, reaching $11.22. The stock had a trading volume of 219,957 shares, compared to its average volume of 994,812. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -32.06 and a beta of 0.98. Indivior PLC has a 12-month low of $7.33 and a 12-month high of $18.59. The firm's fifty day moving average is $9.99 and its two-hundred day moving average is $10.58.

Indivior (NASDAQ:INDV - Get Free Report) last issued its quarterly 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 241.73% and a negative net margin of 3.96%. The company had revenue of $266.00 million for the quarter, compared to analyst estimates of $240.13 million. As a group, research analysts forecast that Indivior PLC will post 1.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on INDV. Piper Sandler dropped their price objective on Indivior from $16.00 to $13.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Rodman & Renshaw started coverage on Indivior in a research report on Tuesday, January 28th. They issued a "buy" rating and a $16.00 target price for the company. Finally, RODMAN&RENSHAW upgraded shares of Indivior to a "strong-buy" rating in a research note on Tuesday, January 28th.

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.