Indivior PLC (NASDAQ:INDV) Short Interest Up 21.7% in March

Indivior PLC (NASDAQ:INDV) was the recipient of a significant increase in short interest in 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. Currently, 9.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,993,388 shares, the short-interest ratio is currently 3.1 days.

Wall Street Analyst Weigh In

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

Insider Activity

In other Indivior news, Director David E. Wheadon acquired 1,771 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was bought at an average price of $35.39 per share, with a total value of $62,675.69. Following the purchase, the director owned 14,395 shares in the company, valued at approximately $509,439.05. The trade was a 14.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith Humphreys acquired 775 shares of the business’s stock in a transaction on Monday, January 5th. The stock was acquired at an average price of $35.39 per share, with a total value of $27,427.25. Following the acquisition, the director owned 5,802 shares in the company, valued at $205,332.78. The trade was a 15.42% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 5,842 shares of company stock valued at $203,342 in the last ninety days.

Hedge Funds Weigh In On Indivior

Large investors have recently modified their holdings of the business. Oaktree Capital Management LP raised its holdings in Indivior by 2,241.6% in the 3rd quarter. Oaktree Capital Management LP now owns 257,785,398 shares of the company’s stock valued at $6,215,206,000 after buying an additional 246,776,273 shares during the period. Divisadero Street Capital Management LP lifted its position in Indivior by 2,372.5% in the third quarter. Divisadero Street Capital Management LP now owns 3,362,605 shares of the company’s stock valued at $81,072,000 after buying an additional 3,226,605 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Indivior by 101.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 6,371,534 shares of the company’s stock worth $228,611,000 after buying an additional 3,201,639 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Indivior during the fourth quarter worth about $82,687,000. Finally, Vanguard Group Inc. increased its position in shares of Indivior by 57.9% during the fourth quarter. Vanguard Group Inc. now owns 5,473,891 shares of the company’s stock valued at $196,403,000 after acquiring an additional 2,008,078 shares during the last quarter. Institutional investors and hedge funds own 60.33% of the company’s stock.

Indivior Price Performance

Shares of NASDAQ INDV opened at $30.48 on Wednesday. The company has a market capitalization of $3.72 billion, a P/E ratio of 18.59 and a beta of 0.83. The company has a 50 day simple moving average of $32.67 and a 200-day simple moving average of $31.14. Indivior has a 1 year low of $8.64 and a 1 year high of $38.00.

Indivior (NASDAQ:INDV) last released its quarterly earnings data on Friday, February 27th. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $358.00 million for the quarter, compared to analysts’ expectations of $305.62 million. Indivior had a negative return on equity of 148.76% and a net margin of 16.85%. As a group, research analysts expect that Indivior will post 1.22 EPS for the current year.

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.