Indivior (NASDAQ:INDV) Stock Rating Reaffirmed by Piper Sandler

Indivior (NASDAQ:INDV)‘s stock had its “overweight” rating reissued by analysts at Piper Sandler in a research note issued on Friday, Benzinga reports. They presently have a $15.00 price objective on the stock, down from their prior price objective of $22.00. Piper Sandler’s target price would indicate a potential upside of 101.07% from the stock’s previous close.

Separately, Craig Hallum cut their price objective on Indivior from $37.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th.

Indivior Trading Down 6.5 %

Shares of NASDAQ:INDV opened at $7.46 on Friday. The stock has a 50 day moving average of $10.99 and a 200 day moving average of $14.71. The company has a market cap of $1.03 billion, a PE ratio of 746.00 and a beta of 0.68. The company has a current ratio of 0.85, a quick ratio of 0.68 and a debt-to-equity ratio of 23.50. Indivior has a 12-month low of $7.39 and a 12-month high of $23.22.

Indivior (NASDAQ:INDV) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The company had revenue of $299.00 million during the quarter, compared to the consensus estimate 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 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INDV. Toronto Dominion Bank boosted its stake in Indivior by 58.0% in the 1st quarter. Toronto Dominion Bank now owns 2,094,865 shares of the company’s stock worth $44,872,000 after purchasing an additional 769,000 shares during the period. Susquehanna International Group Ltd. bought a new position in Indivior in the 2nd quarter worth approximately $3,224,000. Millennium Management LLC boosted its stake in Indivior by 48.1% in the 2nd quarter. Millennium Management LLC now owns 493,313 shares of the company’s stock worth $7,952,000 after purchasing an additional 160,282 shares during the period. M&G Plc bought a new position in Indivior in the 1st quarter worth approximately $2,518,000. Finally, FourWorld Capital Management LLC bought a new position in Indivior in the 1st quarter worth approximately $2,215,000. 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.