Indivior (NASDAQ:INDV) Earns Overweight Rating from Piper Sandler

Indivior (NASDAQ:INDV)‘s stock had its “overweight” rating reaffirmed by Piper Sandler in a report issued on Friday, Benzinga reports. They currently have a $16.00 target price on the stock, up from their prior target price of $15.00. Piper Sandler’s price objective points to a potential upside of 76.60% from the company’s previous close.

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

Indivior Price Performance

INDV traded up $0.29 during trading on Friday, reaching $9.06. The stock had a trading volume of 131,403 shares, compared to its average volume of 444,700. The business has a 50-day moving average of $10.20 and a 200-day moving average of $13.90. Indivior has a one year low of $7.33 and a one year high of $23.22. The company has a debt-to-equity ratio of 23.50, a quick ratio of 0.68 and a current ratio of 0.85. The stock has a market cap of $1.25 billion, a PE ratio of 906.00 and a beta of 0.68.

Indivior (NASDAQ:INDV) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.44 EPS for the quarter, beating 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, equities research analysts anticipate that Indivior will post 1.7 EPS for the current fiscal year.

Institutional Trading of Indivior

Several hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank lifted its stake in shares of Indivior by 58.0% in the 1st quarter. Toronto Dominion Bank now owns 2,094,865 shares of the company’s stock valued at $44,872,000 after acquiring an additional 769,000 shares during the last quarter. Susquehanna International Group Ltd. bought a new stake in Indivior in the second quarter valued at approximately $3,224,000. Millennium Management LLC boosted its stake in shares of Indivior by 48.1% during the second quarter. Millennium Management LLC now owns 493,313 shares of the company’s stock valued at $7,952,000 after purchasing an additional 160,282 shares during the period. Mediolanum International Funds Ltd bought a new position in shares of Indivior in the third quarter worth approximately $1,240,000. Finally, M&G Plc purchased a new position in shares of Indivior in the first quarter worth $2,518,000. 60.33% of the stock is owned by institutional investors.

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.