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

Indivior PLC (NASDAQ:INDV)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $11.65, but opened at $12.24. Indivior shares last traded at $12.28, with a volume of 63,452 shares trading hands.

Wall Street Analyst Weigh In

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

Indivior Stock Performance

The business’s 50 day simple moving average is $11.52 and its 200 day simple moving average is $11.00.

Indivior (NASDAQ:INDV) last announced its earnings results on Thursday, October 24th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $302.25 million. On average, equities analysts expect that Indivior PLC will post 1.62 EPS for the current year.

Hedge Funds Weigh In On Indivior

Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Indivior by 4.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,327 shares of the company’s stock worth $408,000 after acquiring an additional 1,888 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Indivior by 32.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,236 shares of the company’s stock worth $407,000 after purchasing an additional 6,121 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Indivior by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 132,239 shares of the company’s stock worth $1,289,000 after buying an additional 9,500 shares in the last quarter. Stifel Financial Corp bought a new position in Indivior in the 3rd quarter valued at $100,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Indivior in the 2nd quarter valued at $188,000. Institutional investors 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.