Indivior PLC (NASDAQ:INDV) Short Interest Up 23.6% in October

Indivior PLC (NASDAQ:INDV) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 990,200 shares, a growth of 23.6% from the September 30th total of 800,900 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily trading volume, of 942,800 shares, the short-interest ratio is presently 1.1 days.

Institutional Investors Weigh In On Indivior

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new stake in shares of Indivior during the 2nd quarter valued at approximately $188,000. VELA Investment Management LLC purchased a new stake in Indivior during the second quarter worth about $235,000. XTX Topco Ltd acquired a new stake in shares of Indivior during the second quarter worth about $249,000. Cubist Systematic Strategies LLC lifted its holdings in Indivior by 32.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,236 shares of the company’s stock worth $407,000 after buying an additional 6,121 shares in the last quarter. Finally, Forsta AP Fonden acquired a new stake in Indivior during the 1st quarter worth approximately $641,000. Institutional investors and hedge funds own 60.33% of the company’s stock.

Indivior Price Performance

NASDAQ INDV traded up $0.14 during mid-day trading on Wednesday, hitting $9.30. The stock had a trading volume of 507,498 shares, compared to its average volume of 453,124. Indivior has a twelve month low of $7.33 and a twelve month high of $23.22. The company has a debt-to-equity ratio of 23.50, a current ratio of 0.85 and a quick ratio of 0.68. The firm’s 50 day moving average is $9.99 and its 200 day moving average is $13.56. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 930.00 and a beta of 0.68.

Indivior (NASDAQ:INDV) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $307.00 million during the quarter, compared to analysts’ expectations of $302.25 million. Equities research analysts forecast that Indivior will post 1.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Craig Hallum decreased their price objective on shares of 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 reissued an “overweight” rating and issued a $16.00 price target (up previously from $15.00) on shares of Indivior in a report on Friday, October 25th.

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.