Divisadero Street Capital Management LP Purchases 3,226,605 Shares of Indivior PLC $INDV

Divisadero Street Capital Management LP grew its position in shares of Indivior PLC (NASDAQ:INDV) by 2,372.5% during the third quarter, Holdings Channel reports. The firm owned 3,362,605 shares of the company’s stock after acquiring an additional 3,226,605 shares during the quarter. Indivior makes up approximately 3.5% of Divisadero Street Capital Management LP’s portfolio, making the stock its 6th biggest holding. Divisadero Street Capital Management LP’s holdings in Indivior were worth $81,072,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Oaktree Capital Management LP raised its holdings in shares of Indivior by 2,241.6% in the 3rd quarter. Oaktree Capital Management LP now owns 257,785,398 shares of the company’s stock valued at $6,215,206,000 after buying an additional 246,776,273 shares during the period. Geode Capital Management LLC boosted its holdings in Indivior by 1,122.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,576,915 shares of the company’s stock valued at $23,244,000 after acquiring an additional 1,447,939 shares during the period. Goldman Sachs Group Inc. grew its position in 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 acquiring an additional 1,299,425 shares in the last quarter. Rubric Capital Management LP grew its position in Indivior by 31.6% in the 2nd quarter. Rubric Capital Management LP now owns 4,647,179 shares of the company’s stock valued at $68,499,000 after acquiring an additional 1,117,140 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Indivior by 2,597.9% during the first quarter. Jane Street Group LLC now owns 995,013 shares of the company’s stock worth $9,327,000 after purchasing an additional 958,132 shares during the period. 60.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Stuart A. Kingsley acquired 940 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was acquired at an average cost of $31.86 per share, with a total value of $29,948.40. Following the transaction, the director owned 5,582 shares in the company, valued at approximately $177,842.52. This trade represents a 20.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Stejbach bought 775 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were purchased at an average price of $35.39 per share, with a total value of $27,427.25. Following the purchase, the director owned 16,847 shares of the company’s stock, valued at approximately $596,215.33. This represents a 4.82% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 5,842 shares of company stock worth $203,342.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on INDV shares. Northland Securities set a $50.00 price target on shares of Indivior in a research report on Tuesday, January 20th. Zacks Research downgraded shares of Indivior from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 13th. HC Wainwright increased their target price on shares of Indivior from $35.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Morgan Stanley reissued an “overweight” rating and issued a $36.00 price target on shares of Indivior in a research report on Wednesday, December 3rd. Finally, Weiss Ratings upgraded shares of Indivior from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Indivior has an average rating of “Moderate Buy” and a consensus target price of $39.33.

Indivior Stock Performance

Shares of Indivior stock opened at $31.11 on Monday. The business has a 50-day simple moving average of $33.73 and a 200-day simple moving average of $30.66. Indivior PLC has a one year low of $8.64 and a one year high of $38.00. The company has a market cap of $3.89 billion, a PE ratio of 18.97 and a beta of 0.83.

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

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.