Ritholtz Wealth Management Acquires Shares of 92,845 Indivior PLC $INDV

Ritholtz Wealth Management bought a new position in shares of Indivior PLC (NASDAQ:INDV) during the 3rd quarter, HoldingsChannel reports. The fund bought 92,845 shares of the company’s stock, valued at approximately $2,238,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of INDV. Geode Capital Management LLC lifted its position in Indivior by 1,122.6% during 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. Goldman Sachs Group Inc. raised 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 valued at $79,757,000 after buying an additional 1,299,425 shares in the last quarter. Rubric Capital Management LP lifted its holdings in shares of Indivior by 31.6% during the 2nd quarter. Rubric Capital Management LP now owns 4,647,179 shares of the company’s stock worth $68,499,000 after acquiring an additional 1,117,140 shares during the period. Jane Street Group LLC boosted its position in shares of Indivior by 2,597.9% during the 1st quarter. Jane Street Group LLC now owns 995,013 shares of the company’s stock worth $9,327,000 after acquiring an additional 958,132 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Indivior by 124.4% during the 2nd quarter. Acadian Asset Management LLC now owns 1,492,272 shares of the company’s stock worth $21,977,000 after acquiring an additional 827,230 shares in the last quarter. Institutional investors and hedge funds own 60.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. HC Wainwright boosted their price objective on shares of Indivior from $35.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Piper Sandler reissued an “overweight” rating and set a $41.00 price target (up previously from $27.00) on shares of Indivior in a report on Friday, October 31st. Zacks Research lowered Indivior from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 13th. Northland Securities set a $40.00 target price on Indivior in a research note on Friday, October 31st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $36.00 target price on shares of Indivior in a report on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.57.

Indivior Stock Performance

INDV stock opened at $32.54 on Friday. The company has a market capitalization of $4.07 billion, a P/E ratio of 35.37 and a beta of 0.75. The company has a fifty day moving average price of $34.34 and a 200-day moving average price of $26.64. Indivior PLC has a 52-week low of $7.62 and a 52-week high of $38.00.

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

Insider Activity at Indivior

In related news, Director David E. Wheadon acquired 1,771 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were bought at an average cost of $35.39 per share, with a total value of $62,675.69. Following the completion of the purchase, the director directly owned 14,395 shares in the company, valued at $509,439.05. The trade was a 14.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Barbara Ryan bought 775 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were purchased at an average cost of $35.39 per share, with a total value of $27,427.25. Following the transaction, the director directly owned 1,963 shares in the company, valued at approximately $69,470.57. This trade represents a 65.24% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 4,871 shares of company stock valued at $172,385 over the last ninety days.

Indivior 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.