Piper Sandler Initiates Coverage on Indivior (NASDAQ:INDV)

Piper Sandler began coverage on shares of Indivior (NASDAQ:INDV) in a report issued on Tuesday, Marketbeat.com reports. The brokerage issued an overweight rating and a $22.00 price objective on the stock.

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

Indivior Stock Down 2.3 %

INDV opened at $12.79 on Tuesday. The business has a 50 day moving average price of $15.09 and a 200 day moving average price of $17.64. Indivior has a twelve month low of $9.14 and a twelve month high of $24.11. The company has a debt-to-equity ratio of 23.50, a quick ratio of 0.74 and a current ratio of 0.92. The firm has a market cap of $1.76 billion, a P/E ratio of 1,279.00 and a beta of 0.69.

Indivior (NASDAQ:INDV) last posted its earnings results on Thursday, April 25th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). Indivior had a return on equity of 842.72% and a net margin of 0.44%. The company had revenue of $284.00 million during the quarter, compared to analyst estimates of $300.00 million. Research analysts forecast that Indivior will post 1.76 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in shares of Indivior in the second quarter valued at $188,000. Chilton Investment Co. Inc. acquired a new stake in shares of Indivior in the fourth quarter valued at $263,000. ADAR1 Capital Management LLC acquired a new stake in shares of Indivior in the fourth quarter valued at $368,000. Cannon Global Investment Management LLC acquired a new stake in shares of Indivior in the first quarter valued at $563,000. Finally, Forsta AP Fonden acquired a new stake in shares of Indivior in the first quarter valued at $641,000. 60.33% of the stock is currently owned by institutional investors and hedge funds.

Indivior Company Profile

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.