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

Indivior PLC (NASDAQ:INDV) gapped down prior to trading 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 trading hands.

Wall Street Analysts Forecast Growth

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

Indivior Stock Down 6.9%

The business has a 50-day simple moving average of $33.93 and a 200-day simple moving average of $30.53. The stock has a market cap of $3.82 billion, a P/E ratio of 18.67 and a beta of 0.83.

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

Insider Transactions at Indivior

In other news, Director Keith Humphreys bought 775 shares of the business’s stock in a transaction on Monday, January 5th. The stock was purchased at an average price of $35.39 per share, with a total value of $27,427.25. Following the transaction, the director directly owned 5,802 shares in the company, valued at approximately $205,332.78. The trade was a 15.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David E. Wheadon purchased 1,771 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were purchased at an average price of $35.39 per share, with a total value of $62,675.69. Following the completion of the acquisition, the director directly owned 14,395 shares of the company’s stock, valued at approximately $509,439.05. This trade represents a 14.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 5,842 shares of company stock worth $203,342.

Institutional Trading of Indivior

Hedge funds have recently added to or reduced their stakes in the business. Oaktree Capital Management LP increased its position in Indivior by 2,241.6% in the 3rd quarter. Oaktree Capital Management LP now owns 257,785,398 shares of the company’s stock worth $6,215,206,000 after buying an additional 246,776,273 shares during the period. Divisadero Street Capital Management LP boosted its position in shares of Indivior by 2,372.5% in the third quarter. Divisadero Street Capital Management LP now owns 3,362,605 shares of the company’s stock valued at $81,072,000 after acquiring an additional 3,226,605 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of Indivior by 101.0% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 6,371,534 shares of the company’s stock worth $228,611,000 after acquiring an additional 3,201,639 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Indivior in the fourth quarter worth $82,687,000. Finally, Vanguard Group Inc. increased its position in Indivior by 57.9% during the fourth quarter. Vanguard Group Inc. now owns 5,473,891 shares of the company’s stock worth $196,403,000 after acquiring an additional 2,008,078 shares during the period. Institutional investors own 60.33% of the company’s stock.

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.