Indivior (NASDAQ:INDV) Shares Gap Down – What’s Next?

Shares of Indivior PLC (NASDAQ:INDV) gapped down prior to trading on Thursday . The stock had previously closed at $11.02, but opened at $10.40. Indivior shares last traded at $10.49, with a volume of 88,375 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on INDV shares. Rodman & Renshaw started coverage on shares of Indivior in a report on Tuesday, January 28th. They issued a “buy” rating and a $16.00 target price on the stock. Piper Sandler reiterated an “overweight” rating and issued a $16.00 target price (up previously from $15.00) on shares of Indivior in a report on Friday, October 25th. RODMAN&RENSHAW upgraded Indivior to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Craig Hallum reduced their target price on shares of Indivior from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, October 11th.

Indivior Stock Performance

The stock has a market cap of $1.44 billion, a PE ratio of -261.96 and a beta of 0.74. The firm has a fifty day moving average price of $11.82 and a 200 day moving average price of $11.06.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Iron Triangle Partners LP purchased a new position in Indivior during the third quarter valued at $8,243,000. Krensavage Asset Management LLC purchased a new stake in shares of Indivior during the third quarter worth approximately $6,843,000. Stonepine Capital Management LLC purchased a new stake in shares of Indivior during the third quarter worth $2,632,000. Clark Estates Inc. NY acquired a new stake in shares of Indivior in the third quarter valued at about $2,477,000. Finally, AlphaCentric Advisors LLC purchased a new position in shares of Indivior in the third quarter worth about $2,364,000. Hedge funds and other institutional investors own 60.33% of the company’s stock.

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.