Indivior (NASDAQ:INDV) Sees Strong Trading Volume – Still a Buy?

Indivior PLC (NASDAQ:INDV) saw an uptick in trading volume on Thursday . 1,544,291 shares traded hands during trading, an increase of 192% from the previous session’s volume of 528,938 shares.The stock last traded at $8.88 and had previously closed at $8.58.

Wall Street Analysts Forecast Growth

INDV has been the topic of a number of research analyst reports. Rodman & Renshaw began coverage on shares of Indivior in a research note on Tuesday, January 28th. They issued a “buy” rating and a $16.00 target price on the stock. RODMAN&RENSHAW raised shares of Indivior to a “strong-buy” rating in a report on Tuesday, January 28th.

Indivior Trading Up 4.1 %

The firm has a fifty day moving average of $11.14 and a two-hundred day moving average of $10.69. The company has a market cap of $1.27 billion, a PE ratio of -26.40 and a beta of 0.73.

Indivior (NASDAQ:INDV) last posted its earnings results on Thursday, February 20th. The company reported $0.32 earnings per share for the quarter, hitting the consensus estimate 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 the consensus estimate of $262.35 million. Sell-side analysts expect that Indivior PLC will post 1.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Indivior

A number of hedge funds and other institutional investors have recently bought and sold shares of INDV. GF Fund Management CO. LTD. bought a new position in shares of Indivior in the fourth quarter worth $36,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Indivior during the 4th quarter worth about $56,000. Lazard Asset Management LLC bought a new position in Indivior in the 4th quarter worth about $57,000. Stifel Financial Corp purchased a new position in Indivior during the 3rd quarter valued at about $100,000. Finally, Melqart Asset Management UK Ltd bought a new stake in shares of Indivior during the third quarter valued at about $132,000. Institutional investors own 60.33% of the company’s stock.

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.