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

Indivior PLC (NASDAQ:INDV)’s stock price gapped up before the market opened 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 traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Craig Hallum reduced their target price on shares of Indivior from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Piper Sandler reiterated an “overweight” rating and set a $16.00 target price (up previously from $15.00) on shares of Indivior in a research report on Friday, October 25th.

Indivior Stock Performance

The company has a 50 day moving average of $11.52 and a 200 day moving average of $11.00.

Indivior (NASDAQ:INDV) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.54 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $302.25 million. Analysts expect that Indivior PLC will post 1.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Indivior

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