Indivior (NASDAQ:INDV) Receives Overweight Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Indivior (NASDAQ:INDV) in a research report released on Friday, Benzinga reports. Piper Sandler currently has a $16.00 price target on the stock, up from their prior price target of $15.00.

Separately, Craig Hallum cut their price target on shares of Indivior from $20.00 to $16.00 and set a “buy” rating for the company in a report on Friday, October 11th.

Indivior Trading Up 2.6 %

INDV traded up $0.23 during midday trading on Friday, reaching $9.00. 977,462 shares of the company’s stock were exchanged, compared to its average volume of 1,225,578. 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 business has a 50-day simple moving average of $10.13 and a two-hundred day simple moving average of $13.81. Indivior has a one year low of $7.33 and a one year high of $23.22.

Indivior (NASDAQ:INDV) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $299.00 million for the quarter, compared to analysts’ expectations of $285.90 million. Indivior had a negative return on equity of 654.82% and a negative net margin of 12.29%. Research analysts predict that Indivior will post 1.6 EPS for the current fiscal year.

Institutional Trading of Indivior

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank lifted its position in shares of Indivior by 58.0% during the first quarter. Toronto Dominion Bank now owns 2,094,865 shares of the company’s stock worth $44,872,000 after purchasing an additional 769,000 shares in the last quarter. Susquehanna International Group Ltd. bought a new stake in shares of Indivior during the second quarter worth $3,224,000. Millennium Management LLC lifted its stake in shares of Indivior by 48.1% during the second quarter. Millennium Management LLC now owns 493,313 shares of the company’s stock valued at $7,952,000 after acquiring an additional 160,282 shares during the period. Mediolanum International Funds Ltd bought a new position in Indivior in the third quarter valued at about $1,240,000. Finally, M&G Plc acquired a new stake in Indivior in the first quarter worth about $2,518,000. 60.33% of the stock is currently owned by institutional investors and hedge funds.

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.