Indivior (NASDAQ:INDV) Shares Gap Down – Here’s What Happened

Indivior PLC (NASDAQ:INDV) gapped down prior to trading on Thursday . The stock had previously closed at $10.91, but opened at $8.98. Indivior shares last traded at $9.50, with a volume of 538,734 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on INDV. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price target (up from $15.00) on shares of Indivior in a research report on Friday, October 25th. Rodman & Renshaw began coverage on Indivior in a report on Tuesday, January 28th. They issued a “buy” rating and a $16.00 price target for the company. Finally, RODMAN&RENSHAW raised Indivior to a “strong-buy” rating in a research report on Tuesday, January 28th.

Indivior Price Performance

The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -230.09 and a beta of 0.73. The business’s 50-day moving average price is $11.56 and its 200 day moving average price is $10.89.

Indivior (NASDAQ:INDV) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Indivior had a negative net margin of 0.17% and a negative return on equity of 351.08%. As a group, sell-side analysts expect that Indivior PLC will post 1.55 earnings per share for the current year.

Institutional Investors Weigh In On Indivior

Several hedge funds and other institutional investors have recently bought and sold shares of INDV. GF Fund Management CO. LTD. purchased a new position in shares of Indivior during the 4th quarter valued at approximately $36,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Indivior in the fourth quarter valued at $56,000. Lazard Asset Management LLC bought a new position in Indivior during the 4th quarter valued at $57,000. Stifel Financial Corp acquired a new position in Indivior during the 3rd quarter worth $100,000. Finally, Melqart Asset Management UK Ltd bought a new position in shares of Indivior during the third quarter worth about $132,000. 60.33% of the stock is currently 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.