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

Indivior PLC (NASDAQ:INDV) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 12,191,483 shares, an increase of 21.7% from the February 26th total of 10,013,606 shares. Approximately 9.7% of the shares of the stock are short sold. Based on an average trading volume of 3,993,388 shares, the short-interest ratio is presently 3.1 days.

Analysts Set New Price Targets

INDV has been the subject of several analyst reports. Weiss Ratings downgraded Indivior from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 17th. Zacks Research upgraded Indivior from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. Northland Securities set a $50.00 target price on Indivior in a research note on Tuesday, January 20th. HC Wainwright increased their target price on Indivior from $35.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $36.00 price target on shares of Indivior in a research note on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $39.33.

Indivior Stock Up 0.6%

NASDAQ:INDV opened at $30.65 on Thursday. The company has a market cap of $3.74 billion, a P/E ratio of 18.69 and a beta of 0.88. Indivior has a fifty-two week low of $8.64 and a fifty-two week high of $38.00. The firm’s 50 day moving average is $32.62 and its two-hundred day moving average is $31.13.

Indivior (NASDAQ:INDV) last announced its quarterly earnings data on Friday, February 27th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $358.00 million during the quarter, compared to analysts’ expectations of $305.62 million. Indivior had a net margin of 16.85% and a negative return on equity of 148.76%. Research analysts forecast that Indivior will post 1.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Indivior news, Director Stuart A. Kingsley purchased 940 shares of the stock in a transaction dated Friday, March 6th. The shares were acquired at an average cost of $31.86 per share, for a total transaction of $29,948.40. Following the completion of the transaction, the director directly owned 5,582 shares of the company’s stock, valued at $177,842.52. This trade represents a 20.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Keith Humphreys bought 775 shares of Indivior stock in a transaction that occurred on Monday, January 5th. The stock was bought at an average cost of $35.39 per share, for a total transaction of $27,427.25. Following the purchase, the director owned 5,802 shares in the company, valued at $205,332.78. This represents a 15.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 5,842 shares of company stock valued at $203,342.

Institutional Investors Weigh In On Indivior

A number of institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Indivior by 18.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,996 shares of the company’s stock valued at $79,757,000 after acquiring an additional 1,299,425 shares in the last quarter. Jane Street Group LLC raised its position in Indivior by 2,597.9% in the first quarter. Jane Street Group LLC now owns 995,013 shares of the company’s stock valued at $9,327,000 after purchasing an additional 958,132 shares during the period. JPMorgan Chase & Co. raised its position in Indivior by 669.1% in the second quarter. JPMorgan Chase & Co. now owns 391,386 shares of the company’s stock valued at $5,769,000 after purchasing an additional 340,498 shares during the period. Rhumbline Advisers acquired a new position in shares of Indivior during the second quarter worth about $2,594,000. Finally, Prudential Financial Inc. purchased a new stake in shares of Indivior in the second quarter worth about $207,000. Hedge funds and other institutional investors own 60.33% of the company’s stock.

About Indivior

Indivior plc is a specialty pharmaceutical company dedicated to developing and delivering treatments for addiction and related mental health disorders. The company’s portfolio centers on therapies designed to support individuals dealing with opioid dependence, alcohol use disorder and other behavioral health challenges. Its lead products include Suboxone® (buprenorphine and naloxone) sublingual film and Sublocade® (extended-release buprenorphine) injection, both of which are approved in multiple markets to aid in opioid use disorder management.

Indivior was established in 2014 through a demerger from the pharmaceuticals division of Reckitt Benckiser Group plc, inheriting decades of research and commercial expertise in addiction medicine.