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

Indivior PLC (NASDAQ:INDV)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $8.56, but opened at $9.20. Indivior shares last traded at $9.32, with a volume of 115,911 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have commented on INDV. Craig Hallum lowered their price target on Indivior from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Piper Sandler reissued an “overweight” rating and issued a $15.00 price objective (down from $22.00) on shares of Indivior in a research report on Friday, October 11th.

Indivior Stock Performance

The stock has a market capitalization of $1.24 billion, a P/E ratio of 929.00 and a beta of 0.68. The firm has a 50-day moving average of $10.27 and a 200 day moving average of $13.93. The company has a quick ratio of 0.68, a current ratio of 0.85 and a debt-to-equity ratio of 23.50.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in INDV. Vanguard Group Inc. lifted its holdings in shares of Indivior by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 5,899,190 shares of the company’s stock valued at $90,081,000 after acquiring an additional 52,836 shares during the period. Cannon Global Investment Management LLC bought a new position in shares of Indivior during the first quarter valued at $563,000. Forsta AP Fonden bought a new position in shares of Indivior during the first quarter valued at $641,000. M&G Plc acquired a new stake in shares of Indivior in the first quarter valued at $2,518,000. Finally, Toronto Dominion Bank increased its stake in shares of Indivior by 58.0% in the first quarter. Toronto Dominion Bank now owns 2,094,865 shares of the company’s stock valued at $44,872,000 after buying an additional 769,000 shares in the last quarter. 60.33% of the stock is 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.