Indivior (NASDAQ:INDV) Shares Gap Down – Here’s What Happened

Indivior PLC (NASDAQ:INDV)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $32.83, but opened at $30.00. Indivior shares last traded at $30.6410, with a volume of 1,223,924 shares traded.

Wall Street Analysts Forecast Growth

INDV has been the subject of several research reports. Weiss Ratings raised shares of Indivior from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Northland Securities set a $50.00 price objective on shares of Indivior in a research note on Tuesday, January 20th. HC Wainwright lifted their price objective on shares of Indivior from $35.00 to $48.00 and gave the company a “buy” rating in a report on Monday, January 12th. Zacks Research downgraded shares of Indivior from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $36.00 price target on shares of Indivior in a research report on Wednesday, December 3rd. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.33.

Indivior Price Performance

The firm has a market cap of $3.89 billion, a P/E ratio of 18.97 and a beta of 0.83. The company has a fifty day moving average of $33.73 and a 200-day moving average of $30.58.

Indivior (NASDAQ:INDV) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. The business had revenue of $358.00 million for the quarter, compared to analysts’ expectations of $305.62 million. Indivior had a negative return on equity of 148.76% and a net margin of 16.85%. On average, sell-side analysts expect that Indivior PLC will post 1.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director David E. Wheadon acquired 1,771 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was purchased at an average price of $35.39 per share, for a total transaction of $62,675.69. Following the purchase, the director owned 14,395 shares in the company, valued at approximately $509,439.05. This represents a 14.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Stejbach bought 775 shares of the company’s stock in a transaction on Monday, January 5th. The shares were purchased at an average cost of $35.39 per share, for a total transaction of $27,427.25. Following the transaction, the director owned 16,847 shares in the company, valued at approximately $596,215.33. This represents a 4.82% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 5,842 shares of company stock valued at $203,342 over the last 90 days.

Hedge Funds Weigh In On Indivior

Several institutional investors have recently modified their holdings of INDV. Goldman Sachs Group Inc. grew its holdings in shares of Indivior by 18.4% in the first quarter. Goldman Sachs Group Inc. now owns 8,368,996 shares of the company’s stock valued at $79,757,000 after acquiring an additional 1,299,425 shares in the last quarter. Jane Street Group LLC lifted its holdings in Indivior by 2,597.9% during the first quarter. Jane Street Group LLC now owns 995,013 shares of the company’s stock worth $9,327,000 after acquiring an additional 958,132 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Indivior in the second quarter worth $768,000. ProShare Advisors LLC bought a new position in Indivior in the 2nd quarter valued at $435,000. Finally, Geode Capital Management LLC increased its position in shares of Indivior by 1,122.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,576,915 shares of the company’s stock valued at $23,244,000 after purchasing an additional 1,447,939 shares during the last quarter. 60.33% of the stock is owned by institutional investors.

About Indivior

Indivior plc is a specialty pharmaceutical company dedicated to developing and delivering treatments for addiction and related mental health disorders. The company’s portfolio centers on therapies designed to support individuals dealing with opioid dependence, alcohol use disorder and other behavioral health challenges. Its lead products include Suboxone® (buprenorphine and naloxone) sublingual film and Sublocade® (extended-release buprenorphine) injection, both of which are approved in multiple markets to aid in opioid use disorder management.

Indivior was established in 2014 through a demerger from the pharmaceuticals division of Reckitt Benckiser Group plc, inheriting decades of research and commercial expertise in addiction medicine.