Short Interest in Indivior PLC (NASDAQ:INDV) Decreases By 15.7%

Indivior PLC (NASDAQ:INDV) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 800,900 shares, a decline of 15.7% from the September 15th total of 950,000 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 859,800 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Investors Weigh In On Indivior

Several large investors have recently modified their holdings of the stock. M&G Plc acquired a new position in Indivior in the 1st quarter valued at $2,518,000. Janus Henderson Group PLC raised its holdings in Indivior by 14.2% during the first quarter. Janus Henderson Group PLC now owns 440,121 shares of the company’s stock worth $9,424,000 after purchasing an additional 54,750 shares in the last quarter. Vanguard Group Inc. lifted its position in Indivior by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 5,899,190 shares of the company’s stock valued at $90,081,000 after purchasing an additional 52,836 shares during the period. Quadrature Capital Ltd purchased a new stake in Indivior in the 1st quarter valued at approximately $1,523,000. Finally, Susquehanna International Group Ltd. acquired a new position in Indivior during the 2nd quarter worth approximately $3,224,000. Hedge funds and other institutional investors own 60.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on INDV shares. Piper Sandler reissued an “overweight” rating and issued a $15.00 price target (down from $22.00) on shares of Indivior in a research report on Friday, October 11th. Craig Hallum reduced their target price on Indivior from $20.00 to $16.00 and set a “buy” rating for the company in a report on Friday, October 11th.

Indivior Stock Performance

NASDAQ:INDV traded up $0.14 during trading hours on Wednesday, reaching $8.14. 875,271 shares of the company’s stock were exchanged, compared to its average volume of 433,151. Indivior has a 1-year low of $7.33 and a 1-year high of $23.22. The company has a quick ratio of 0.68, a current ratio of 0.85 and a debt-to-equity ratio of 23.50. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 804.00 and a beta of 0.68. The company has a 50-day moving average of $10.77 and a 200 day moving average of $14.43.

Indivior (NASDAQ:INDV) last announced its earnings results on Thursday, July 25th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.04. The business had revenue of $299.00 million during the quarter, compared to the consensus estimate of $285.90 million. Indivior had a negative net margin of 12.29% and a negative return on equity of 654.82%. Research analysts anticipate that Indivior will post 1.7 EPS 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.