Indivior PLC (NASDAQ:INDV) Sees Large Increase in Short Interest

Indivior PLC (NASDAQ:INDV) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 10,322,427 shares, an increase of 57.5% from the December 15th total of 6,555,910 shares. Based on an average trading volume of 3,623,093 shares, the days-to-cover ratio is presently 2.8 days. Currently, 8.3% of the shares of the company are short sold. Currently, 8.3% of the shares of the company are short sold. Based on an average trading volume of 3,623,093 shares, the days-to-cover ratio is presently 2.8 days.

Wall Street Analyst Weigh In

Several brokerages have commented on INDV. Northland Securities set a $40.00 target price on shares of Indivior in a research report on Friday, October 31st. Zacks Research downgraded shares of Indivior from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $41.00 target price (up from $27.00) on shares of Indivior in a report on Friday, October 31st. Craig Hallum reiterated a “buy” rating and set a $41.00 price target on shares of Indivior in a research report on Friday, October 31st. Finally, HC Wainwright upped their price target on Indivior from $35.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.57.

Indivior Price Performance

INDV stock opened at $32.54 on Friday. The company’s 50 day simple moving average is $34.34 and its 200-day simple moving average is $26.64. The firm has a market capitalization of $4.07 billion, a PE ratio of 35.37 and a beta of 0.75. Indivior has a 12 month low of $7.62 and a 12 month high of $38.00.

Indivior (NASDAQ:INDV) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.34. Indivior had a negative return on equity of 90.79% and a net margin of 9.83%.The firm had revenue of $314.00 million during the quarter, compared to the consensus estimate of $257.66 million. As a group, sell-side analysts anticipate that Indivior will post 1.22 earnings per share for the current year.

Insider Activity

In other news, Director Barbara Ryan acquired 775 shares of Indivior stock in a transaction that occurred on Monday, January 5th. The stock was purchased at an average price of $35.39 per share, for a total transaction of $27,427.25. Following the completion of the transaction, the director directly owned 1,963 shares in the company, valued at approximately $69,470.57. This trade represents a 65.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David E. Wheadon bought 1,771 shares of the company’s stock in a transaction on Monday, January 5th. The shares were acquired at an average price of $35.39 per share, for a total transaction of $62,675.69. Following the transaction, the director directly owned 14,395 shares in the company, valued at $509,439.05. This trade represents a 14.03% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 4,871 shares of company stock valued at $172,385 over the last ninety days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Oaktree Capital Management LP boosted its holdings in shares of Indivior by 2,241.6% during the third quarter. Oaktree Capital Management LP now owns 257,785,398 shares of the company’s stock worth $6,215,206,000 after purchasing an additional 246,776,273 shares during the last quarter. Two Seas Capital LP lifted its position in Indivior by 0.4% during the second quarter. Two Seas Capital LP now owns 11,407,795 shares of the company’s stock worth $168,151,000 after buying an additional 41,018 shares during the period. Goldman Sachs Group Inc. boosted its stake in Indivior by 18.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,996 shares of the company’s stock worth $79,757,000 after buying an additional 1,299,425 shares during the last quarter. Rubric Capital Management LP boosted its stake in Indivior by 31.6% in the 2nd quarter. Rubric Capital Management LP now owns 4,647,179 shares of the company’s stock worth $68,499,000 after buying an additional 1,117,140 shares during the last quarter. Finally, Newtyn Management LLC grew its holdings in Indivior by 61.1% in the 3rd quarter. Newtyn Management LLC now owns 4,200,000 shares of the company’s stock valued at $101,262,000 after buying an additional 1,592,982 shares during the period. 60.33% of the stock is currently owned by institutional investors and hedge funds.

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.