Short Interest in Indivior PLC (NASDAQ:INDV) Rises By 57.5%

Indivior PLC (NASDAQ:INDV) was the target of a large increase in short interest in December. As of December 31st, there was short interest totaling 10,322,427 shares, an increase of 57.5% from the December 15th total of 6,555,910 shares. Based on an average trading volume of 3,623,093 shares, the days-to-cover ratio is currently 2.8 days. Approximately 8.3% of the shares of the stock are short sold. Approximately 8.3% of the shares of the stock are short sold. Based on an average trading volume of 3,623,093 shares, the days-to-cover ratio is currently 2.8 days.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Northland Securities set a $40.00 target price on Indivior in a research report on Friday, October 31st. Craig Hallum reissued a “buy” rating and issued a $41.00 target price on shares of Indivior in a report on Friday, October 31st. Zacks Research downgraded Indivior from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Indivior in a research report on Friday, October 31st. Finally, Piper Sandler reissued an “overweight” rating and issued a $41.00 price target (up from $27.00) on shares of Indivior in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.57.

Indivior Trading Down 1.0%

Shares of Indivior stock traded down $0.34 on Friday, reaching $32.54. 2,317,098 shares of the stock were exchanged, compared to its average volume of 2,192,063. The firm has a market capitalization of $4.07 billion, a PE ratio of 35.37 and a beta of 0.75. Indivior has a 1-year low of $7.62 and a 1-year high of $38.00. The business has a fifty day moving average price of $34.34 and a two-hundred day moving average price of $26.56.

Indivior (NASDAQ:INDV) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.34. The firm had revenue of $314.00 million for the quarter, compared to analyst estimates of $257.66 million. Indivior had a negative return on equity of 90.79% and a net margin of 9.83%. Research analysts expect that Indivior will post 1.22 EPS for the current year.

Insider Activity

In related news, Director Mark Stejbach purchased 775 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were purchased at an average cost of $35.39 per share, with a total value of $27,427.25. Following the purchase, the director owned 16,847 shares of the company’s stock, valued at $596,215.33. This represents a 4.82% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David E. Wheadon acquired 1,771 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was purchased at an average price of $35.39 per share, for a total transaction of $62,675.69. Following the completion of the acquisition, the director owned 14,395 shares in the company, valued at $509,439.05. The trade was a 14.03% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 4,871 shares of company stock worth $172,385.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of INDV. CWM LLC acquired a new position in Indivior in the 3rd quarter valued at about $25,000. Quarry LP acquired a new position in shares of Indivior in the 3rd quarter valued at about $26,000. GAMMA Investing LLC grew its holdings in shares of Indivior by 544.6% during the 4th quarter. GAMMA Investing LLC now owns 1,199 shares of the company’s stock worth $43,000 after purchasing an additional 1,013 shares during the period. Raymond James Financial Inc. purchased a new position in Indivior in the second quarter valued at approximately $26,000. Finally, Plato Investment Management Ltd purchased a new stake in Indivior during the third quarter worth approximately $52,000. 60.33% of the stock is owned by hedge funds and other institutional investors.

About Indivior

Indivior plc is a specialty pharmaceutical company dedicated to developing and delivering treatments for addiction and related mental health disorders. The company’s portfolio centers on therapies designed to support individuals dealing with opioid dependence, alcohol use disorder and other behavioral health challenges. Its lead products include Suboxone® (buprenorphine and naloxone) sublingual film and Sublocade® (extended-release buprenorphine) injection, both of which are approved in multiple markets to aid in opioid use disorder management.

Indivior was established in 2014 through a demerger from the pharmaceuticals division of Reckitt Benckiser Group plc, inheriting decades of research and commercial expertise in addiction medicine.