Indivior (NASDAQ:INDV) stock is falling on Tuesday as investors have concerns following a business update from the pharmaceutical company.
The big news here is Indivior updating its second-quarter outlook. That includes Q2 revenue guidance ranging from $295 million to $303 million. That doesn’t look good compared to Wall Street’s estimate of $301.65 million.
Indivior’s updated its 2024 guidance at the same time. The company is lowering its outlook alongside a combination of transitory factors. Included in this is the end of Covid-19 emergency measures.
Indivior is also discontinuing sales of PERSERIS due to adverse impacts from increased payor management. The company says this will no longer make it financially viable.
Indivior has also reached a settlement in an end-payor agreement lawsuit. This will have it resolve this legal matter with an $85 million payment.
INDV Stock Movement Today
All of this news has shares of INDV stock seeing heavy trading on Tuesday morning. That has more than 131,000 shares being traded as of this writing. This is already above the company’s daily average trading volume of about 97,000 shares.
INDV stock is down 37% as of Tuesday morning.
Investors who are seeking out more of the most recent stock market stories today are in the right place!
InvestorPlace is home to all of the hottest stock market news worth reading about on Tuesday! A few examples include what’s going on with shares of Anew Medical (NASDAQ:WENA) and Pineapple Energy (NASDAQ:PEGY) stock, as well as the biggest pre-market stock movers this morning. All of this news is ready at the links below!
More Tuesday Stock Market News
- Why Is Anew Medical (WENA) Stock Up 51% Today?
- Why Is Pineapple Energy (PEGY) Stock Up 67% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
