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 $9.83, but opened at $10.40. Indivior shares last traded at $10.52, with a volume of 57,788 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on INDV. RODMAN&RENSHAW raised Indivior to a “strong-buy” rating in a research report on Tuesday, January 28th. Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 target price (up from $15.00) on shares of Indivior in a research report on Friday, October 25th. Finally, Rodman & Renshaw began coverage on shares of Indivior in a research report on Tuesday, January 28th. They issued a “buy” rating and a $16.00 price target for the company.

Indivior Price Performance

The stock has a 50 day simple moving average of $11.59 and a two-hundred day simple moving average of $10.91. The company has a market cap of $1.49 billion, a PE ratio of -270.68 and a beta of 0.73.

Institutional Investors Weigh In On Indivior

A number of institutional investors and hedge funds have recently made changes to their positions in INDV. Mirae Asset Global Investments Co. Ltd. acquired a new position in Indivior in the 4th quarter valued at about $56,000. Lazard Asset Management LLC purchased a new stake in shares of Indivior during the fourth quarter worth approximately $57,000. Stifel Financial Corp acquired a new stake in shares of Indivior during the third quarter worth $100,000. Melqart Asset Management UK Ltd purchased a new position in Indivior in the 3rd quarter valued at $132,000. Finally, Jane Street Group LLC acquired a new position in Indivior in the 3rd quarter valued at $180,000. 60.33% of the stock is owned by hedge funds and other 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.