Indivior (NASDAQ:INDV) Shares Gap Down – Time to Sell?

Indivior PLC (NASDAQ:INDV) gapped down before the market opened on Tuesday . The stock had previously closed at $9.52, but opened at $9.23. Indivior shares last traded at $9.45, with a volume of 114,520 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Piper Sandler reduced their price target on shares of Indivior from $16.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Rodman & Renshaw assumed coverage on shares of Indivior in a research note on Tuesday, January 28th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, RODMAN&RENSHAW raised shares of Indivior to a “strong-buy” rating in a research note on Tuesday, January 28th.

Indivior Price Performance

The stock has a market capitalization of $1.35 billion, a P/E ratio of -27.89 and a beta of 0.82. The firm has a 50-day simple moving average of $10.75 and a 200 day simple moving average of $10.54.

Indivior (NASDAQ:INDV) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Indivior had a negative net margin of 3.96% and a negative return on equity of 241.73%. The business had revenue of $298.00 million during the quarter, compared to analyst estimates of $262.35 million. Sell-side analysts anticipate that Indivior PLC will post 1.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Indivior

A number of hedge funds have recently modified their holdings of INDV. Deerfield Management Company L.P. Series C increased its holdings in Indivior by 74.4% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 8,883,160 shares of the company’s stock valued at $110,418,000 after purchasing an additional 3,790,518 shares during the period. Newtyn Management LLC grew its position in shares of Indivior by 62.0% in the 4th quarter. Newtyn Management LLC now owns 1,406,531 shares of the company’s stock valued at $17,483,000 after buying an additional 538,426 shares during the last quarter. Millennium Management LLC increased its stake in shares of Indivior by 36.9% in the fourth quarter. Millennium Management LLC now owns 1,233,006 shares of the company’s stock valued at $15,326,000 after buying an additional 332,180 shares during the period. Ardsley Advisory Partners LP raised its position in shares of Indivior by 11.0% during the fourth quarter. Ardsley Advisory Partners LP now owns 1,200,000 shares of the company’s stock worth $14,916,000 after acquiring an additional 119,050 shares during the last quarter. Finally, CenterBook Partners LP lifted its stake in shares of Indivior by 105.5% in the fourth quarter. CenterBook Partners LP now owns 1,147,841 shares of the company’s stock worth $14,268,000 after acquiring an additional 589,158 shares during the period. Institutional investors and hedge funds 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.