Indivior (NASDAQ:INDV) Sees Strong Trading Volume – Time to Buy?

Shares of Indivior PLC (NASDAQ:INDV) saw an uptick in trading volume on Friday . 8,737,425 shares changed hands during mid-day trading, an increase of 312% from the previous session’s volume of 2,121,490 shares.The stock last traded at $31.0260 and had previously closed at $30.86.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on INDV. Northland Securities set a $50.00 price objective on shares of Indivior in a research note on Tuesday, January 20th. Zacks Research downgraded shares of Indivior from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. HC Wainwright boosted their target price on shares of Indivior from $35.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Morgan Stanley restated an “overweight” rating and set a $36.00 price target on shares of Indivior in a report on Wednesday, December 3rd. Finally, Weiss Ratings raised Indivior from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.33.

Indivior Price Performance

The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 18.74 and a beta of 0.83. The business has a fifty day moving average price of $33.83 and a 200 day moving average price of $30.53.

Indivior (NASDAQ:INDV) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. Indivior had a net margin of 16.85% and a negative return on equity of 148.76%. The business had revenue of $358.00 million for the quarter, compared to the consensus estimate of $305.62 million. As a group, sell-side analysts predict that Indivior PLC will post 1.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David E. Wheadon purchased 1,771 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were bought at an average cost of $35.39 per share, for a total transaction 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 trade represents a 14.03% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Keith Humphreys acquired 775 shares of the company’s stock in a transaction dated 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 acquisition, the director owned 5,802 shares in the company, valued at approximately $205,332.78. This trade represents a 15.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 5,842 shares of company stock worth $203,342.

Hedge Funds Weigh In On Indivior

Several large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position 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 worth $79,757,000 after acquiring an additional 1,299,425 shares during the period. Jane Street Group LLC increased its position in shares of Indivior by 2,597.9% during the first 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 during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Indivior in the second quarter valued at $768,000. ProShare Advisors LLC bought a new position in Indivior in the second quarter worth $435,000. Finally, Geode Capital Management LLC lifted its position in Indivior by 1,122.6% in the second 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 period. Institutional investors and hedge funds own 60.33% of the company’s stock.

About Indivior

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.