Rodman & Renshaw Initiates Coverage on Indivior (NASDAQ:INDV)

Rodman & Renshaw began coverage on shares of Indivior (NASDAQ:INDV) in a note issued to investors on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $16.00 price target on the stock. Rodman & Renshaw’s target price indicates a potential upside of 31.69% from the company’s previous close.

Several other analysts also recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 target price (up previously from $15.00) on shares of Indivior in a research note on Friday, October 25th. Craig Hallum cut their target price on Indivior from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, October 11th.

Indivior Price Performance

Shares of Indivior stock opened at $12.15 on Tuesday. The business’s fifty day moving average price is $11.72 and its two-hundred day moving average price is $11.01. The company has a market capitalization of $1.68 billion, a P/E ratio of -303.67 and a beta of 0.74. Indivior has a 1-year low of $7.33 and a 1-year high of $23.22.

Institutional Trading of Indivior

A number of hedge funds and other institutional investors have recently modified their holdings of INDV. VELA Investment Management LLC grew its holdings in shares of Indivior by 722.9% in the 3rd quarter. VELA Investment Management LLC now owns 123,435 shares of the company’s stock worth $1,212,000 after acquiring an additional 108,435 shares during the last quarter. Stifel Financial Corp purchased a new position in Indivior in the third quarter valued at about $100,000. AlphaCentric Advisors LLC purchased a new position in Indivior in the third quarter valued at about $2,364,000. Millennium Management LLC lifted its position in shares of Indivior by 48.1% in the second quarter. Millennium Management LLC now owns 493,313 shares of the company’s stock worth $7,952,000 after buying an additional 160,282 shares during the last quarter. Finally, Clark Estates Inc. NY acquired a new stake in shares of Indivior in the third quarter worth about $2,477,000. Institutional investors 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.