Indivior (NASDAQ:INDV) Sees Large Volume Increase – Here’s Why

Shares of Indivior PLC (NASDAQ:INDV) saw strong trading volume on Thursday . 1,544,291 shares were traded during trading, an increase of 192% from the previous session’s volume of 528,938 shares.The stock last traded at $8.88 and had previously closed at $8.58.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Rodman & Renshaw assumed coverage on Indivior in a research report on Tuesday, January 28th. They issued a “buy” rating and a $16.00 price objective for the company. RODMAN&RENSHAW upgraded Indivior to a “strong-buy” rating in a report on Tuesday, January 28th.

Indivior Price Performance

The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -26.40 and a beta of 0.73. The firm’s fifty day moving average price is $11.14 and its two-hundred day moving average price is $10.69.

Indivior (NASDAQ:INDV) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $298.00 million for the quarter, compared to the consensus estimate of $262.35 million. Indivior had a negative return on equity of 241.73% and a negative net margin of 3.96%. On average, equities research analysts anticipate that Indivior PLC will post 1.22 earnings per share for the current year.

Hedge Funds Weigh In On Indivior

A number of large investors have recently modified their holdings of INDV. GF Fund Management CO. LTD. bought a new position in Indivior in the 4th quarter valued at about $36,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Indivior in the fourth quarter worth approximately $56,000. Lazard Asset Management LLC bought a new position in shares of Indivior in the fourth quarter valued at approximately $57,000. Stifel Financial Corp purchased a new position in shares of Indivior during the third quarter valued at approximately $100,000. Finally, Melqart Asset Management UK Ltd bought a new stake in Indivior during the third quarter worth $132,000. 60.33% of the stock is currently owned by institutional investors.

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.