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 daily volume of 1,440,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.9% of the company’s stock are short sold.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Indivior

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INDV. Deerfield Management Company L.P. Series C raised its stake in Indivior by 74.4% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 8,883,160 shares of the company’s stock worth $110,418,000 after acquiring an additional 3,790,518 shares during the period. Iron Triangle Partners LP bought a new stake in Indivior during the 3rd quarter worth approximately $8,243,000. Claret Asset Management Corp bought a new stake in Indivior during the 4th quarter worth approximately $9,304,000. Krensavage Asset Management LLC bought a new stake in Indivior during the 3rd quarter worth approximately $6,843,000. Finally, CenterBook Partners LP raised its stake in Indivior by 105.5% during the 4th quarter. CenterBook Partners LP now owns 1,147,841 shares of the company’s stock worth $14,268,000 after acquiring an additional 589,158 shares during the period. Institutional investors own 60.33% of the company’s stock.

Indivior Price Performance

Shares of NASDAQ:INDV traded up $0.09 during trading on Friday, hitting $9.68. The company’s stock had a trading volume of 856,224 shares, compared to its average volume of 607,346. The company has a 50-day moving average of $10.64 and a 200-day moving average of $10.51. Indivior has a 12 month low of $7.33 and a 12 month high of $22.53. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -27.66 and a beta of 0.82.

Indivior (NASDAQ:INDV) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.32 earnings per share for the quarter, hitting the consensus estimate 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 analysts’ expectations of $262.35 million. As a group, research analysts anticipate that Indivior will post 1.22 earnings per share for the current year.

Indivior Company Profile

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.