Indivior (NASDAQ:INDV) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Indivior (NASDAQ:INDV) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

INDV has been the subject of a number of other reports. Piper Sandler reaffirmed an “overweight” rating and issued a $41.00 price objective (up from $27.00) on shares of Indivior in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Indivior in a research report on Friday, October 31st. Craig Hallum reiterated a “buy” rating and issued a $41.00 price target on shares of Indivior in a research note on Friday, October 31st. Northland Securities set a $40.00 price target on shares of Indivior in a report on Friday, October 31st. Finally, HC Wainwright raised their price objective on shares of Indivior from $35.00 to $48.00 and gave the company a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Indivior presently has an average rating of “Moderate Buy” and an average target price of $34.57.

Indivior Stock Down 2.3%

NASDAQ:INDV traded down $0.76 on Tuesday, hitting $32.87. The stock had a trading volume of 193,501 shares, compared to its average volume of 2,011,049. The company has a fifty day moving average price of $34.30 and a two-hundred day moving average price of $26.39. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 35.73 and a beta of 0.75. Indivior has a 1-year low of $7.62 and a 1-year high of $38.00.

Indivior (NASDAQ:INDV) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.34. Indivior had a negative return on equity of 90.79% and a net margin of 9.83%.The firm had revenue of $314.00 million for the quarter, compared to analysts’ expectations of $257.66 million. As a group, analysts anticipate that Indivior will post 1.22 earnings per share for the current year.

Insider Activity at Indivior

In related news, Director David E. Wheadon bought 1,771 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were purchased at an average cost of $35.39 per share, with a total value of $62,675.69. Following the transaction, the director directly owned 14,395 shares of the company’s stock, valued at approximately $509,439.05. This represents a 14.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Stejbach purchased 775 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were bought at an average price of $35.39 per share, for a total transaction of $27,427.25. Following the completion of the purchase, the director directly owned 16,847 shares in the company, valued at $596,215.33. This represents a 4.82% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 4,871 shares of company stock valued at $172,385 in the last quarter.

Institutional Trading of Indivior

Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings 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 purchasing an additional 1,299,425 shares during the last quarter. Jane Street Group LLC lifted its stake in Indivior by 2,597.9% in the first quarter. Jane Street Group LLC now owns 995,013 shares of the company’s stock valued at $9,327,000 after buying an additional 958,132 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Indivior by 16.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,820 shares of the company’s stock valued at $71,000 after acquiring an additional 666 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in shares of Indivior in the second quarter valued at approximately $262,000. Finally, Y Intercept Hong Kong Ltd grew its position in shares of Indivior by 17.4% during the second quarter. Y Intercept Hong Kong Ltd now owns 25,443 shares of the company’s stock worth $375,000 after acquiring an additional 3,769 shares during the last quarter. Institutional investors and hedge funds own 60.33% of the company’s stock.

Indivior Company Profile

Indivior plc is a specialty pharmaceutical company dedicated to developing and delivering treatments for addiction and related mental health disorders. The company’s portfolio centers on therapies designed to support individuals dealing with opioid dependence, alcohol use disorder and other behavioral health challenges. Its lead products include Suboxone® (buprenorphine and naloxone) sublingual film and Sublocade® (extended-release buprenorphine) injection, both of which are approved in multiple markets to aid in opioid use disorder management.

Indivior was established in 2014 through a demerger from the pharmaceuticals division of Reckitt Benckiser Group plc, inheriting decades of research and commercial expertise in addiction medicine.