Piper Sandler Reaffirms Overweight Rating for Indivior (NASDAQ:INDV)

Indivior (NASDAQ:INDV)‘s stock had its “overweight” rating reissued by stock analysts at Piper Sandler in a report issued on Friday, Benzinga reports. They currently have a $22.00 target price on the stock. Piper Sandler’s target price points to a potential upside of 122.67% from the stock’s previous close.

Separately, Craig Hallum dropped their target price on shares of Indivior from $37.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th.

Indivior Price Performance

Indivior stock traded up $0.26 during mid-day trading on Friday, reaching $9.88. 158,497 shares of the company were exchanged, compared to its average volume of 340,794. The firm has a market cap of $1.36 billion, a PE ratio of 978.00 and a beta of 0.68. The company has a debt-to-equity ratio of 23.50, a current ratio of 0.85 and a quick ratio of 0.68. The company has a fifty day simple moving average of $12.00 and a 200-day simple moving average of $16.43. Indivior has a 12 month low of $9.14 and a 12 month high of $23.22.

Indivior (NASDAQ:INDV) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The company had revenue of $299.00 million for the quarter, compared to analysts’ expectations 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 expect that Indivior will post 1.7 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. Norges Bank acquired a new stake in Indivior in the fourth quarter valued at about $36,011,000. Toronto Dominion Bank boosted 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 purchasing an additional 769,000 shares in the last quarter. UBS Group AG grew its holdings in shares of Indivior by 71.9% during the 4th quarter. UBS Group AG now owns 826,130 shares of the company’s stock valued at $12,615,000 after purchasing an additional 345,556 shares during the last quarter. Lingotto Investment Management LLP increased its position in Indivior by 115.7% during the 4th quarter. Lingotto Investment Management LLP now owns 590,000 shares of the company’s stock worth $8,913,000 after purchasing an additional 316,435 shares in the last quarter. Finally, Susquehanna International Group Ltd. bought a new position in Indivior in the 2nd quarter valued at approximately $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.