Indivior PLC (NASDAQ:INDV) Short Interest Update

Indivior PLC (NASDAQ:INDV) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 2,000,000 shares, a decline of 20.9% from the March 15th total of 2,530,000 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average daily volume of 1,370,000 shares, the days-to-cover ratio is currently 1.5 days.

Indivior Stock Performance

Indivior stock traded down $0.05 during mid-day trading on Friday, hitting $9.01. The company’s stock had a trading volume of 1,484,689 shares, compared to its average volume of 948,234. The company has a 50 day moving average of $9.50 and a 200-day moving average of $10.33. Indivior has a one year low of $7.33 and a one year high of $19.13. The stock has a market cap of $1.24 billion, a PE ratio of -25.74 and a beta of 0.93.

Indivior (NASDAQ:INDV) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $298.00 million for the quarter, compared to analysts’ expectations of $262.35 million. Indivior had a negative net margin of 3.96% and a negative return on equity of 241.73%. On average, equities research analysts forecast that Indivior will post 1.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Rodman & Renshaw initiated coverage on Indivior in a report on Tuesday, January 28th. They set a “buy” rating and a $16.00 price target on the stock. Piper Sandler reduced their target price on shares of Indivior from $16.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Finally, RODMAN&RENSHAW upgraded shares of Indivior to a “strong-buy” rating in a report on Tuesday, January 28th.

Hedge Funds Weigh In On Indivior

A number of institutional investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. bought a new position in Indivior in the fourth quarter worth approximately $36,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Indivior during the 4th quarter worth $56,000. Lazard Asset Management LLC purchased a new position in shares of Indivior during the fourth quarter valued at $57,000. Schaper Benz & Wise Investment Counsel Inc. WI bought a new stake in shares of Indivior in the first quarter valued at about $95,000. Finally, Stifel Financial Corp purchased a new stake in Indivior in the third quarter worth about $100,000. 60.33% of the stock is owned by hedge funds and other institutional investors.

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.