Craig Hallum Initiates Coverage on Indivior (NASDAQ:INDV)

Equities research analysts at Craig Hallum initiated coverage on shares of Indivior (NASDAQ:INDV - Get Free Report) in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm set a "buy" rating and a $37.00 price target on the stock. Craig Hallum's price objective would suggest a potential upside of 68.18% from the stock's current price.

Indivior Stock Up 5.6 %

Indivior stock traded up $1.16 during midday trading on Wednesday, hitting $22.00. 335,715 shares of the stock were exchanged, compared to its average volume of 121,639. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -1,099.45 and a beta of 0.46. Indivior has a 52-week low of $14.38 and a 52-week high of $26.50. The business's 50-day moving average price is $19.87 and its 200-day moving average price is $18.52.

Indivior (NASDAQ:INDV - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.15. The firm had revenue of $293.00 million for the quarter, compared to analysts' expectations of $260.00 million. Indivior had a net margin of 0.18% and a return on equity of 538.18%. On average, sell-side analysts predict that Indivior will post 2.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Liontrust Investment Partners LLP purchased a new position in Indivior in the third quarter valued at about $43,340,000. JPMorgan Chase & Co. purchased a new stake in shares of Indivior during the 2nd quarter valued at approximately $23,101,000. Vanguard Group Inc. lifted its stake in shares of Indivior by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,846,354 shares of the company's stock valued at $134,875,000 after buying an additional 90,673 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Indivior during the 3rd quarter valued at approximately $3,181,000. Finally, FMR LLC lifted its stake in shares of Indivior by 53.5% during the 3rd quarter. FMR LLC now owns 5,498,087 shares of the company's stock valued at $119,339,000 after buying an additional 1,915,980 shares in the last quarter. 60.33% of the stock is currently owned by hedge funds and other 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.