Indivior (NASDAQ:INDV) Shares Gap Up – Still a Buy?

Indivior PLC (NASDAQ:INDV) gapped up before the market opened on Tuesday . The stock had previously closed at $9.83, but opened at $10.40. Indivior shares last traded at $10.52, with a volume of 57,788 shares changing hands.

Wall Street Analyst Weigh In

INDV has been the topic of a number of research reports. Rodman & Renshaw initiated coverage on Indivior in a report on Tuesday, January 28th. They set a “buy” rating and a $16.00 price objective on the stock. RODMAN&RENSHAW raised Indivior to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 price target (up from $15.00) on shares of Indivior in a research note on Friday, October 25th.

Indivior Stock Performance

The stock has a market capitalization of $1.24 billion, a P/E ratio of -224.69 and a beta of 0.73. The stock has a 50-day moving average price of $11.56 and a two-hundred day moving average price of $10.89.

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

Institutional Investors Weigh In On Indivior

Several hedge funds have recently made changes to their positions in INDV. Mediolanum International Funds Ltd bought a new stake in shares of Indivior during the third quarter valued at approximately $1,240,000. VELA Investment Management LLC boosted its position in shares of Indivior by 722.9% during the third quarter. VELA Investment Management LLC now owns 123,435 shares of the company’s stock valued at $1,212,000 after purchasing an additional 108,435 shares in the last quarter. AlphaCentric Advisors LLC bought a new stake in shares of Indivior during the third quarter valued at approximately $2,364,000. Valence8 US LP bought a new stake in shares of Indivior during the third quarter valued at approximately $564,000. Finally, Clark Estates Inc. NY bought a new stake in shares of Indivior during the third quarter valued at approximately $2,477,000. 60.33% of the stock is currently owned by institutional investors.

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.