Indivior’s (INDV) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Indivior (NASDAQ:INDV) in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a $16.00 target price on the stock, up from their previous target price of $15.00.

Separately, Craig Hallum lowered their price target on Indivior from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, October 11th.

Indivior Trading Up 2.6 %

Shares of Indivior stock traded up $0.23 during trading hours on Friday, hitting $9.00. The company’s stock had a trading volume of 977,462 shares, compared to its average volume of 1,225,578. The company has a quick ratio of 0.68, a current ratio of 0.85 and a debt-to-equity ratio of 23.50. The stock has a 50 day moving average of $10.13 and a 200 day moving average of $13.81. Indivior has a 12 month low of $7.33 and a 12 month high of $23.22.

Indivior (NASDAQ:INDV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. Indivior had a negative return on equity of 654.82% and a negative net margin of 12.29%. The business had revenue of $299.00 million during the quarter, compared to the consensus estimate of $285.90 million. Analysts anticipate that Indivior will post 1.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Indivior

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Indivior by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 5,899,190 shares of the company’s stock valued at $90,081,000 after purchasing an additional 52,836 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of Indivior by 58.0% during the first quarter. Toronto Dominion Bank now owns 2,094,865 shares of the company’s stock worth $44,872,000 after buying an additional 769,000 shares during the last quarter. Millennium Management LLC increased its holdings in shares of 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. Janus Henderson Group PLC lifted its stake in shares of Indivior by 14.2% in the 1st quarter. Janus Henderson Group PLC now owns 440,121 shares of the company’s stock valued at $9,424,000 after acquiring an additional 54,750 shares during the last quarter. Finally, Susquehanna International Group Ltd. acquired a new stake in shares of Indivior during the 2nd quarter valued at $3,224,000. 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.