Indivior (NASDAQ:INDV) Shares Gap Down – Should You Sell?

Shares of Indivior PLC (NASDAQ:INDV) gapped down before the market opened 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 traded.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Rodman & Renshaw began coverage on shares of Indivior in a research note on Tuesday, January 28th. They issued a “buy” rating and a $16.00 price target for the company. Piper Sandler reiterated an “overweight” rating and issued a $16.00 price objective (up from $15.00) on shares of Indivior in a research report on Friday, October 25th. Finally, RODMAN&RENSHAW upgraded Indivior to a “strong-buy” rating in a research report on Tuesday, January 28th.

Indivior Stock Performance

The firm’s 50-day moving average price is $11.56 and its two-hundred day moving average price is $10.89. The firm has a market cap of $1.27 billion, a PE ratio of -230.09 and a beta of 0.73.

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

Hedge Funds Weigh In On Indivior

Several hedge funds and other institutional investors have recently bought and sold shares of INDV. VELA Investment Management LLC boosted its position in Indivior by 722.9% during the third quarter. VELA Investment Management LLC now owns 123,435 shares of the company’s stock worth $1,212,000 after acquiring an additional 108,435 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Indivior during the fourth quarter worth about $359,000. Stifel Financial Corp acquired a new stake in Indivior in the 3rd quarter worth about $100,000. AlphaCentric Advisors LLC purchased a new stake in Indivior in the 3rd quarter valued at about $2,364,000. Finally, Clark Estates Inc. NY acquired a new position in shares of Indivior during the 3rd quarter valued at about $2,477,000. 60.33% of the stock is owned by institutional investors and hedge funds.

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.