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

Piper Sandler reissued their overweight rating on shares of Indivior (NASDAQ:INDV) in a report issued on Friday morning, Benzinga reports. Piper Sandler currently has a $15.00 price target on the stock, down from their prior price target of $22.00.

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

Indivior Stock Performance

NASDAQ INDV opened at $7.90 on Friday. The business has a 50 day moving average price of $10.88 and a 200 day moving average price of $14.52. The company has a market capitalization of $1.09 billion, a P/E ratio of 790.00 and a beta of 0.68. Indivior has a 1-year low of $7.33 and a 1-year high of $23.22. The company has a debt-to-equity ratio of 23.50, a current ratio of 0.85 and a quick ratio of 0.68.

Indivior (NASDAQ:INDV) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.04. Indivior had a negative return on equity of 654.82% and a negative net margin of 12.29%. The business had revenue of $299.00 million during the quarter, compared to the consensus estimate of $285.90 million. Sell-side analysts expect that Indivior will post 1.7 EPS for the current fiscal year.

Institutional Trading of Indivior

A number of large investors have recently made changes to their positions in INDV. Madison Avenue Partners LP lifted its holdings in Indivior by 84.9% in the 4th quarter. Madison Avenue Partners LP now owns 72,255 shares of the company’s stock valued at $1,103,000 after purchasing an additional 33,168 shares in the last quarter. Royal London Asset Management Ltd. boosted its position in Indivior by 5.8% during the fourth quarter. Royal London Asset Management Ltd. now owns 447,828 shares of the company’s stock worth $6,838,000 after acquiring an additional 24,383 shares during the last quarter. Vanguard Group Inc. grew its stake in Indivior by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 5,899,190 shares of the company’s stock worth $90,081,000 after acquiring an additional 52,836 shares during the period. Cannon Global Investment Management LLC acquired a new position in Indivior in the 1st quarter valued at $563,000. Finally, Forsta AP Fonden purchased a new position in shares of Indivior during the 1st quarter worth $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.