Indivior (INDV) delivered earnings and revenue surprises of -2.63% and 5.33%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
UK-listed drugmaker Indivior plans to seek shareholder approval next month for a primary listing in the United States, the company said on Thursday, which would add it to a growing list of firms leaving the London stock market. Indivior had, in February, announced its intent to shift its listing by the middle of the year to the U.S., which, it argued, reflected its growth opportunities as its proprietary treatments are U.S.-centred and U.S.-based investors account for nearly 50% of its overall shareholder base. The list of UK-based companies that have already listed in the United States includes ARM, the UK's biggest chip company, as well as building supplies firm CRH and plumbing equipment company Ferguson.
Indivior (INDV) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.