Indivior (NASDAQ:INDV) Stock Price Down 5.9%

Indivior PLC (NASDAQ:INDV)’s share price dropped 5.9% during mid-day trading on Thursday . The company traded as low as $11.37 and last traded at $11.42. Approximately 497,046 shares changed hands during mid-day trading, an increase of 65% from the average daily volume of 300,742 shares. The stock had previously closed at $12.14.

Analysts Set New Price Targets

INDV has been the topic of a number of recent research reports. Piper Sandler initiated coverage on Indivior in a research report on Tuesday, July 23rd. They issued an “overweight” rating and a $22.00 target price on the stock. Craig Hallum dropped their target price on Indivior from $37.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th.

Indivior Stock Performance

The stock has a 50-day moving average of $12.68 and a 200-day moving average of $16.78. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 1,118.00 and a beta of 0.69. The company has a debt-to-equity ratio of 23.50, a quick ratio of 0.68 and a current ratio of 0.85.

Indivior (NASDAQ:INDV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.04. The firm had revenue of $299.00 million for the quarter, compared to analyst estimates of $285.90 million. Indivior had a negative return on equity of 654.82% and a negative net margin of 12.29%. As a group, analysts anticipate that Indivior PLC will post 1.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Indivior during the 4th quarter valued at $36,011,000. M&G Plc acquired a new stake in shares of Indivior during the 1st quarter worth about $2,518,000. Janus Henderson Group PLC boosted its holdings in shares of Indivior by 14.2% during the 1st quarter. Janus Henderson Group PLC now owns 440,121 shares of the company’s stock worth $9,424,000 after buying an additional 54,750 shares during the period. Lingotto Investment Management LLP grew its stake in Indivior by 115.7% in the 4th quarter. Lingotto Investment Management LLP now owns 590,000 shares of the company’s stock valued at $8,913,000 after buying an additional 316,435 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Indivior by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 5,899,190 shares of the company’s stock valued at $90,081,000 after acquiring an additional 52,836 shares during the period. Institutional investors and hedge funds own 60.33% of the company’s stock.

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.