Indivior (NASDAQ:INDV) Stock Price Up 3.8% - Here's What Happened

Indivior PLC (NASDAQ:INDV - Get Free Report) shot up 3.8% during mid-day trading on Friday . The stock traded as high as $12.84 and last traded at $12.88. 414,700 shares changed hands during trading, a decline of 60% from the average session volume of 1,034,635 shares. The stock had previously closed at $12.41.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their target price on shares of Indivior from $16.00 to $13.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th.

Indivior Trading Up 2.5%

The company has a market capitalization of $1.75 billion, a PE ratio of -36.34 and a beta of 0.98. The stock's 50-day moving average is $10.49 and its two-hundred day moving average is $10.76.

Indivior (NASDAQ:INDV - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.19. Indivior had a negative net margin of 3.96% and a negative return on equity of 241.73%. The company had revenue of $266.00 million for the quarter, compared to analyst estimates of $240.13 million. On average, equities research analysts forecast that Indivior PLC will post 1.22 EPS for the current fiscal year.

Institutional Trading of Indivior

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. purchased a new stake in Indivior in the 4th quarter worth about $359,000. VELA Investment Management LLC grew its stake in Indivior by 45.5% in the 4th quarter. VELA Investment Management LLC now owns 179,659 shares of the company's stock worth $2,264,000 after acquiring an additional 56,224 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Indivior in the 4th quarter worth about $56,000. Kazazian Asset Management LLC bought a new position in Indivior in the 4th quarter worth about $1,706,000. Finally, D. E. Shaw & Co. Inc. bought a new position in Indivior in the 4th quarter worth about $1,238,000. 60.33% of the stock is owned by hedge funds and other institutional investors.

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.