Indivior (NASDAQ:INDV) Sees Unusually-High Trading Volume – Time to Buy?

Indivior PLC (NASDAQ:INDV) shares saw unusually-high trading volume on Thursday . Approximately 787,928 shares traded hands during trading, an increase of 67% from the previous session’s volume of 471,561 shares.The stock last traded at $9.94 and had previously closed at $9.30.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $16.00 price objective (up from $15.00) on shares of Indivior in a research note on Friday, October 25th. Craig Hallum decreased their price target on shares of Indivior from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, October 11th.

Indivior Stock Down 5.3 %

The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -256.19 and a beta of 0.70. The firm has a 50-day moving average of $9.54 and a 200 day moving average of $13.11. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 23.50.

Indivior (NASDAQ:INDV) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. The company had revenue of $307.00 million for the quarter, compared to analyst estimates of $302.25 million. Indivior had a negative net margin of 0.17% and a negative return on equity of 351.08%. On average, sell-side analysts anticipate that Indivior PLC will post 1.66 earnings per share for the current year.

Hedge Funds Weigh In On Indivior

A number of institutional investors have recently added to or reduced their stakes in INDV. Bank of New York Mellon Corp purchased a new stake in shares of Indivior during the second quarter worth about $188,000. VELA Investment Management LLC purchased a new stake in Indivior during the 2nd quarter worth approximately $235,000. XTX Topco Ltd purchased a new stake in Indivior during the 2nd quarter worth approximately $249,000. Cubist Systematic Strategies LLC raised its position in shares of Indivior by 32.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,236 shares of the company’s stock valued at $407,000 after purchasing an additional 6,121 shares in the last quarter. Finally, Forsta AP Fonden purchased a new position in shares of Indivior during the 1st quarter valued at approximately $641,000. 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.