Indivior (NASDAQ:INDV) Shares Gap Down – Time to Sell?

Indivior PLC (NASDAQ:INDV) shares gapped down prior to trading on Thursday . The stock had previously closed at $11.02, but opened at $10.40. Indivior shares last traded at $10.49, with a volume of 88,375 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have weighed in on INDV. Piper Sandler reiterated an “overweight” rating and issued a $16.00 target price (up from $15.00) on shares of Indivior in a report on Friday, October 25th. Craig Hallum cut their target price on Indivior from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Rodman & Renshaw assumed coverage on Indivior in a report on Tuesday, January 28th. They set a “buy” rating and a $16.00 price target for the company. Finally, RODMAN&RENSHAW upgraded shares of Indivior to a “strong-buy” rating in a report on Tuesday, January 28th.

Indivior Stock Down 4.9 %

The business has a 50-day simple moving average of $11.82 and a 200-day simple moving average of $11.06. The company has a market cap of $1.44 billion, a PE ratio of -261.96 and a beta of 0.74.

Hedge Funds Weigh In On Indivior

Hedge funds and other institutional investors have recently bought and sold shares of the company. Iron Triangle Partners LP acquired a new stake in shares of Indivior during the third quarter worth about $8,243,000. Krensavage Asset Management LLC acquired a new stake in Indivior during the 3rd quarter worth approximately $6,843,000. Stonepine Capital Management LLC acquired a new stake in Indivior during the 3rd quarter worth approximately $2,632,000. Clark Estates Inc. NY purchased a new position in Indivior in the 3rd quarter valued at approximately $2,477,000. Finally, AlphaCentric Advisors LLC acquired a new position in shares of Indivior in the third quarter worth $2,364,000. 60.33% of the stock is currently owned by hedge funds and other institutional investors.

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.