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

Indivior PLC (NASDAQ:INDV) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,220,000 shares, a growth of 9.9% from the December 15th total of 1,110,000 shares. Based on an average trading volume of 1,280,000 shares, the days-to-cover ratio is currently 1.0 days. Currently, 1.1% of the shares of the stock are short sold.

Indivior Price Performance

Shares of NASDAQ:INDV opened at $11.65 on Monday. The stock has a market capitalization of $1.61 billion, a P/E ratio of -291.18 and a beta of 0.74. The business has a 50-day moving average of $11.46 and a two-hundred day moving average of $11.04. Indivior has a fifty-two week low of $7.33 and a fifty-two week high of $23.22.

Indivior (NASDAQ:INDV) last announced its earnings results on Thursday, October 24th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.15. Indivior had a negative return on equity of 351.08% and a negative net margin of 0.17%. The firm had revenue of $307.00 million during the quarter, compared to analysts’ expectations of $302.25 million. As a group, research analysts expect that Indivior will post 1.62 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $16.00 price target (up previously from $15.00) on shares of Indivior in a research report on Friday, October 25th. Craig Hallum decreased their target price on shares of Indivior from $20.00 to $16.00 and set a “buy” rating for the company in a report on Friday, October 11th.

Institutional Investors Weigh In On Indivior

Hedge funds and other institutional investors have recently made changes to their positions in the business. Iron Triangle Partners LP acquired a new position in shares of Indivior during the third quarter worth approximately $8,243,000. Krensavage Asset Management LLC bought a new stake in shares of Indivior in the third quarter valued at about $6,843,000. Millennium Management LLC grew its position in Indivior by 48.1% during the second quarter. Millennium Management LLC now owns 493,313 shares of the company’s stock worth $7,952,000 after buying an additional 160,282 shares in the last quarter. Stonepine Capital Management LLC bought a new position in Indivior during the third quarter valued at about $2,632,000. Finally, Clark Estates Inc. NY acquired a new position in Indivior in the 3rd quarter valued at approximately $2,477,000. 60.33% of the stock is owned by institutional investors and hedge funds.

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.