Indivior (NASDAQ:INDV) Sees Strong Trading Volume – Here’s Why

Indivior PLC (NASDAQ:INDV) saw strong trading volume on Thursday . 787,928 shares were traded during mid-day trading, an increase of 67% from the previous session’s volume of 471,561 shares.The stock last traded at $9.94 and had previously closed at $9.30.

Wall Street Analysts Forecast Growth

INDV has been the subject of a number of analyst reports. Piper Sandler reaffirmed 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. Craig Hallum lowered their price objective 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 Stock Performance

The company has a debt-to-equity ratio of 23.50, a current ratio of 0.83 and a quick ratio of 0.65. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -253.44 and a beta of 0.70. The stock has a 50 day simple moving average of $9.61 and a two-hundred day simple moving average of $13.19.

Indivior (NASDAQ:INDV) last posted its quarterly 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 return on equity of 351.08% and a negative net margin of 0.17%. The company had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $302.25 million. As a group, analysts anticipate that Indivior PLC will post 1.66 earnings per share for the current year.

Institutional Trading of Indivior

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

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.