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

Indivior PLC (NASDAQ:INDV) shares gapped down before the market opened on Wednesday . The stock had previously closed at $12.23, but opened at $11.95. Indivior shares last traded at $12.06, with a volume of 177,896 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INDV. Craig Hallum decreased their price objective on shares of Indivior from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Piper Sandler reissued an “overweight” rating and issued a $16.00 target price (up previously from $15.00) on shares of Indivior in a research report on Friday, October 25th.

Indivior Price Performance

The firm has a 50-day simple moving average of $11.56 and a two-hundred day simple moving average of $11.01.

Indivior (NASDAQ:INDV) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.54 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 business had revenue of $307.00 million during the quarter, compared to analyst estimates of $302.25 million. Equities research analysts anticipate that Indivior PLC will post 1.62 earnings per share for the current year.

Hedge Funds Weigh In On Indivior

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Iron Triangle Partners LP acquired a new stake in shares of Indivior in the third quarter valued at $8,243,000. Krensavage Asset Management LLC acquired a new stake in Indivior in the 3rd quarter valued at about $6,843,000. Stonepine Capital Management LLC purchased a new position in shares of Indivior in the 3rd quarter valued at about $2,632,000. Clark Estates Inc. NY acquired a new position in shares of Indivior during the third quarter worth about $2,477,000. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Indivior during the third quarter worth approximately $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.