Indivior PLC (NASDAQ:INDV) Sees Significant Increase in Short Interest

Indivior PLC (NASDAQ:INDV) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 2,060,000 shares, an increase of 68.9% from the February 13th total of 1,220,000 shares. Based on an average daily trading volume, of 1,440,000 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.9% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. RODMAN&RENSHAW raised shares of Indivior to a “strong-buy” rating in a report on Tuesday, January 28th. Rodman & Renshaw assumed coverage on shares of Indivior in a report on Tuesday, January 28th. They set a “buy” rating and a $16.00 price objective for the company. Finally, Piper Sandler cut their price objective on shares of Indivior from $16.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, March 6th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. purchased a new position in Indivior during the fourth quarter worth $359,000. Stifel Financial Corp purchased a new position in Indivior during the third quarter worth $100,000. Clark Estates Inc. NY purchased a new position in Indivior during the third quarter worth $2,477,000. Valence8 US LP purchased a new position in Indivior during the third quarter worth $564,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Indivior during the fourth quarter worth $1,192,000. 60.33% of the stock is owned by hedge funds and other institutional investors.

Indivior Trading Up 0.9 %

Shares of INDV stock traded up $0.09 on Friday, reaching $9.68. The company’s stock had a trading volume of 856,224 shares, compared to its average volume of 607,346. The stock’s fifty day simple moving average is $10.64 and its 200-day simple moving average is $10.51. Indivior has a 1 year low of $7.33 and a 1 year high of $22.53. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -27.66 and a beta of 0.82.

Indivior (NASDAQ:INDV) last posted its earnings results on Thursday, February 20th. The company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. Indivior had a negative net margin of 3.96% and a negative return on equity of 241.73%. The firm had revenue of $298.00 million during the quarter, compared to analyst estimates of $262.35 million. Equities research analysts forecast that Indivior will post 1.22 earnings per share for the current year.

About Indivior

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.