Indivior (NASDAQ:INDV) Sees Large Volume Increase – Here’s What Happened

Indivior PLC (NASDAQ:INDV) saw an uptick in trading volume on Thursday . 1,544,291 shares were traded 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

A number of equities analysts have commented on the company. Rodman & Renshaw initiated coverage on Indivior in a research note on Tuesday, January 28th. They issued a “buy” rating and a $16.00 price target on the stock. RODMAN&RENSHAW raised shares of Indivior to a “strong-buy” rating in a research note on Tuesday, January 28th.

Indivior Price Performance

The stock has a market capitalization of $1.22 billion, a PE ratio of -25.37 and a beta of 0.73. The company has a 50 day moving average price of $11.24 and a 200-day moving average price of $10.73.

Indivior (NASDAQ:INDV) last announced its earnings results on Thursday, February 20th. The company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $262.35 million. As a group, equities analysts anticipate that Indivior PLC will post 1.22 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. VELA Investment Management LLC lifted its position in Indivior by 722.9% during the third quarter. VELA Investment Management LLC now owns 123,435 shares of the company’s stock valued at $1,212,000 after buying an additional 108,435 shares during the period. AlphaCentric Advisors LLC purchased a new position in Indivior during the 3rd quarter valued at about $2,364,000. Valence8 US LP bought a new stake in Indivior during the third quarter worth about $564,000. Clark Estates Inc. NY purchased a new stake in Indivior in the third quarter worth about $2,477,000. Finally, Stonepine Capital Management LLC bought a new position in shares of Indivior during the third quarter valued at approximately $2,632,000. Hedge funds and other 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.