Indivior (NASDAQ:INDV) Shares Gap Up to $12.18

Shares of Indivior PLC (NASDAQ:INDV) gapped up before the market opened on Thursday . The stock had previously closed at $12.18, but opened at $12.93. Indivior shares last traded at $12.70, with a volume of 28,139 shares.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on INDV. Craig Hallum lowered their target price on shares of Indivior from $37.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Piper Sandler initiated coverage on Indivior in a research note on Tuesday, July 23rd. They set an “overweight” rating and a $22.00 price objective on the stock.

Indivior Trading Up 0.7 %

The company has a quick ratio of 0.68, a current ratio of 0.85 and a debt-to-equity ratio of 23.50. The firm’s 50-day simple moving average is $13.90 and its 200 day simple moving average is $17.34. The stock has a market capitalization of $1.69 billion, a P/E ratio of 1,218.00 and a beta of 0.69.

Hedge Funds Weigh In On Indivior

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in Indivior in the second quarter valued at about $188,000. VELA Investment Management LLC bought a new stake in shares of Indivior in the 2nd quarter valued at approximately $235,000. XTX Topco Ltd acquired a new position in Indivior in the second quarter worth approximately $249,000. Chilton Investment Co. Inc. bought a new position in Indivior during the fourth quarter valued at approximately $263,000. Finally, ADAR1 Capital Management LLC bought a new position in Indivior during the fourth quarter valued at approximately $368,000. 60.33% of the stock is currently owned by hedge funds and other 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.