Indivior PLC (NASDAQ:INDV) Sees Significant Increase in Short Interest

Indivior PLC (NASDAQ:INDV) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 2,060,000 shares, a growth of 68.9% from the February 13th total of 1,220,000 shares. Based on an average trading volume of 1,440,000 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.9% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several research firms have issued reports on INDV. Rodman & Renshaw began coverage on Indivior in a report on Tuesday, January 28th. They set a “buy” rating and a $16.00 price objective on the stock. RODMAN&RENSHAW upgraded Indivior to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Piper Sandler cut their price objective on Indivior from $16.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th.

Hedge Funds Weigh In On Indivior

A number of large investors have recently made changes to their positions in INDV. GF Fund Management CO. LTD. acquired a new position in shares of Indivior in the 4th quarter valued at about $36,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Indivior in the 4th quarter valued at about $56,000. Lazard Asset Management LLC acquired a new position in shares of Indivior in the 4th quarter valued at about $57,000. Stifel Financial Corp acquired a new position in Indivior in the third quarter worth approximately $100,000. Finally, Melqart Asset Management UK Ltd acquired a new position in Indivior in the third quarter worth approximately $132,000. Institutional investors and hedge funds own 60.33% of the company’s stock.

Indivior Trading Up 0.9 %

NASDAQ INDV opened at $9.68 on Monday. The company has a market cap of $1.33 billion, a PE ratio of -27.66 and a beta of 0.82. Indivior has a 1 year low of $7.33 and a 1 year high of $22.53. The stock’s 50-day moving average price is $10.64 and its two-hundred day moving average price is $10.48.

Indivior (NASDAQ:INDV) last issued 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. The company had revenue of $298.00 million for the quarter, compared to the consensus estimate of $262.35 million. Indivior had a negative return on equity of 241.73% and a negative net margin of 3.96%. Research analysts forecast that Indivior will post 1.22 EPS for the current fiscal year.

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.