Short Interest in Indivior PLC (NASDAQ:INDV) Expands By 23.6%

Indivior PLC (NASDAQ:INDV) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 990,200 shares, an increase of 23.6% from the September 30th total of 800,900 shares. Based on an average trading volume of 942,800 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.8% of the company’s stock are short sold.

Hedge Funds Weigh In On Indivior

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in shares of Indivior during the 2nd quarter valued at $188,000. VELA Investment Management LLC purchased a new stake in Indivior during the second quarter valued at about $235,000. XTX Topco Ltd bought a new position in Indivior during the second quarter worth about $249,000. Cubist Systematic Strategies LLC increased its stake in shares of Indivior by 32.0% in the second quarter. Cubist Systematic Strategies LLC now owns 25,236 shares of the company’s stock worth $407,000 after purchasing an additional 6,121 shares in the last quarter. Finally, Forsta AP Fonden bought a new stake in shares of Indivior in the first quarter valued at approximately $641,000. 60.33% of the stock is owned by institutional investors.

Indivior Stock Performance

Shares of NASDAQ:INDV traded up $0.14 during midday trading on Wednesday, reaching $9.30. The company had a trading volume of 507,498 shares, compared to its average volume of 453,124. Indivior has a 52-week low of $7.33 and a 52-week high of $23.22. The company’s 50 day moving average price is $9.99 and its 200 day moving average price is $13.56. The company has a current ratio of 0.85, a quick ratio of 0.68 and a debt-to-equity ratio of 23.50. The stock has a market cap of $1.28 billion, a P/E ratio of 932.00 and a beta of 0.68.

Indivior (NASDAQ:INDV) last released its earnings results on Thursday, October 24th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. Indivior had a negative net margin of 12.29% and a negative return on equity of 654.82%. The firm had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $302.25 million. As a group, sell-side analysts anticipate that Indivior will post 1.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $16.00 price objective (up previously from $15.00) on shares of Indivior in a research note on Friday, October 25th. Craig Hallum decreased their price target on Indivior from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, October 11th.

Indivior Company 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.