Indivior (NASDAQ:INDV) Shares Gap Up – Still a Buy?

Indivior PLC (NASDAQ:INDV)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $12.18, but opened at $12.54. Indivior shares last traded at $12.56, with a volume of 21,575 shares traded.

Analyst Upgrades and Downgrades

INDV has been the subject of several recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $16.00 price target (up from $15.00) on shares of Indivior in a research 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.

Indivior Stock Up 2.1 %

The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 23.50. The firm has a market cap of $1.71 billion, a P/E ratio of -310.67 and a beta of 0.75. The stock’s fifty day moving average is $10.84 and its two-hundred day moving average is $11.43.

Indivior (NASDAQ:INDV) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.54 earnings per share for the quarter, topping 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 firm had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $302.25 million. As a group, research analysts anticipate that Indivior PLC will post 1.68 earnings per share for the current year.

Institutional Trading of Indivior

Institutional investors and hedge funds have recently modified their holdings of the business. Stifel Financial Corp purchased a new stake in Indivior in the third quarter valued at approximately $100,000. Melqart Asset Management UK Ltd purchased a new stake in shares of Indivior during the 3rd quarter valued at $132,000. Jane Street Group LLC purchased a new stake in shares of Indivior during the 3rd quarter valued at $180,000. Bank of New York Mellon Corp bought a new stake in shares of Indivior during the 2nd quarter worth $188,000. Finally, VELA Investment Management LLC purchased a new position in Indivior in the second quarter worth $235,000. Hedge funds and other institutional investors own 60.33% of the company’s stock.

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.