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

Indivior PLC (NASDAQ:INDV)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $11.65, but opened at $12.24. Indivior shares last traded at $12.28, with a volume of 63,452 shares changing hands.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Piper Sandler reiterated 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. Craig Hallum dropped their price objective on Indivior from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, October 11th.

Indivior Price Performance

The business has a 50 day moving average of $11.48 and a 200 day moving average of $11.02. The company has a market cap of $1.69 billion, a PE ratio of -305.42 and a beta of 0.74.

Indivior (NASDAQ:INDV) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.15. Indivior had a negative net margin of 0.17% and a negative return on equity of 351.08%. The company had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $302.25 million. Sell-side analysts forecast that Indivior PLC will post 1.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Indivior

Several hedge funds have recently bought and sold shares of the business. Iron Triangle Partners LP purchased a new stake in shares of Indivior in the 3rd quarter worth approximately $8,243,000. Krensavage Asset Management LLC bought a new stake in Indivior during the 3rd quarter valued at about $6,843,000. Millennium Management LLC raised its stake in shares of Indivior by 48.1% in the second quarter. Millennium Management LLC now owns 493,313 shares of the company’s stock worth $7,952,000 after purchasing an additional 160,282 shares during the last quarter. Stonepine Capital Management LLC bought a new stake in shares of Indivior in the third quarter worth $2,632,000. Finally, Clark Estates Inc. NY purchased a new stake in Indivior during the third quarter valued at $2,477,000. Institutional investors own 60.33% of the company’s stock.

About Indivior

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.