Indivior (NASDAQ:INDV) Shares Gap Down – Here’s Why

Shares of Indivior PLC (NASDAQ:INDV) gapped down before the market opened on Thursday . The stock had previously closed at $9.44, but opened at $7.85. Indivior shares last traded at $7.87, with a volume of 726,133 shares.

Analysts Set New Price Targets

INDV has been the topic of several research reports. Piper Sandler restated an “overweight” rating and set a $15.00 price target (down from $22.00) on shares of Indivior in a research note on Friday. Craig Hallum lowered their price objective on Indivior from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday.

Indivior Stock Down 6.5 %

The company has a current ratio of 0.85, a quick ratio of 0.68 and a debt-to-equity ratio of 23.50. The business’s fifty day moving average price is $11.11 and its 200 day moving average price is $14.80. The company has a market capitalization of $1.03 billion, a P/E ratio of 746.00 and a beta of 0.68.

Indivior (NASDAQ:INDV) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $299.00 million during the quarter, compared to analysts’ expectations of $285.90 million. Indivior had a negative net margin of 12.29% and a negative return on equity of 654.82%. As a group, equities research analysts predict that Indivior PLC will post 1.7 earnings per share for the current fiscal year.

Institutional Trading of Indivior

Several institutional investors have recently bought and sold shares of the stock. Madison Avenue Partners LP lifted its holdings in shares of Indivior by 84.9% during the fourth quarter. Madison Avenue Partners LP now owns 72,255 shares of the company’s stock valued at $1,103,000 after acquiring an additional 33,168 shares during the period. Royal London Asset Management Ltd. lifted its holdings in Indivior by 5.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 447,828 shares of the company’s stock valued at $6,838,000 after purchasing an additional 24,383 shares during the last quarter. Vanguard Group Inc. boosted its position in Indivior by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 5,899,190 shares of the company’s stock valued at $90,081,000 after buying an additional 52,836 shares in the last quarter. Cannon Global Investment Management LLC bought a new stake in Indivior during the first quarter worth about $563,000. Finally, Forsta AP Fonden acquired a new stake in shares of Indivior during the first quarter worth approximately $641,000. Institutional investors and hedge funds own 60.33% of the company’s stock.

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.