JPMorgan Chase & Co. Lowers Stock Position in Indivior PLC (NASDAQ:INDV)

JPMorgan Chase & Co. trimmed its position in Indivior PLC (NASDAQ:INDV) by 68.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 441,745 shares of the company’s stock after selling 953,120 shares during the quarter. JPMorgan Chase & Co. owned about 0.32% of Indivior worth $4,307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INDV. Iron Triangle Partners LP bought a new position in shares of Indivior in the third quarter worth approximately $8,243,000. Krensavage Asset Management LLC purchased a new position in shares of Indivior during the 3rd quarter valued at $6,843,000. Millennium Management LLC boosted its holdings in Indivior by 48.1% in the 2nd quarter. Millennium Management LLC now owns 493,313 shares of the company’s stock worth $7,952,000 after buying an additional 160,282 shares during the period. Stonepine Capital Management LLC purchased a new stake in Indivior in the 3rd quarter worth $2,632,000. Finally, Clark Estates Inc. NY bought a new stake in Indivior during the third quarter valued at about $2,477,000. Institutional investors own 60.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on INDV. Craig Hallum dropped their price objective on Indivior from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Piper Sandler restated an “overweight” rating and issued a $16.00 price target (up from $15.00) on shares of Indivior in a research note on Friday, October 25th.

Indivior Stock Performance

Shares of NASDAQ INDV opened at $11.65 on Friday. The company has a market cap of $1.61 billion, a P/E ratio of -291.18 and a beta of 0.74. Indivior PLC has a 52-week low of $7.33 and a 52-week high of $23.22. The firm’s fifty day moving average is $11.46 and its two-hundred day moving average is $11.10.

Indivior (NASDAQ:INDV) last issued its earnings results on Thursday, October 24th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.15. Indivior had a negative return on equity of 351.08% and a negative net margin of 0.17%. The firm had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $302.25 million. As a group, analysts forecast that Indivior PLC will post 1.62 EPS for the current fiscal year.

Indivior Profile

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.