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

Indivior PLC (NASDAQ:INDV)’s share price gapped down prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

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

Indivior Price Performance

The firm has a fifty day moving average of $11.56 and a 200 day moving average of $11.01.

Indivior (NASDAQ:INDV) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.39 by $0.15. Indivior had a negative return on equity of 351.08% and a negative net margin of 0.17%. The business had revenue of $307.00 million for the quarter, compared to analyst estimates of $302.25 million. Research analysts forecast that Indivior PLC will post 1.62 EPS for the current year.

Hedge Funds Weigh In On Indivior

Several institutional investors and hedge funds have recently bought and sold shares of INDV. VELA Investment Management LLC increased its holdings in shares of Indivior by 722.9% during the 3rd quarter. VELA Investment Management LLC now owns 123,435 shares of the company’s stock worth $1,212,000 after buying an additional 108,435 shares during the last quarter. Susquehanna International Group Ltd. acquired a new stake in Indivior during the second quarter worth $3,224,000. Stifel Financial Corp purchased a new stake in Indivior in the third quarter valued at $100,000. AlphaCentric Advisors LLC acquired a new position in shares of Indivior in the 3rd quarter valued at $2,364,000. Finally, Millennium Management LLC grew its holdings in shares of Indivior by 48.1% during the 2nd 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 period. 60.33% of the stock is currently 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.