Indivior (NASDAQ:INDV) Shares Gap Up – Time to Buy?

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 trading hands.

Analyst Upgrades and Downgrades

INDV has been the subject of a number of analyst reports. Piper Sandler reissued an “overweight” rating and issued a $16.00 price target (up from $15.00) on shares of Indivior in a report on Friday, October 25th. RODMAN&RENSHAW raised shares of Indivior to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Rodman & Renshaw initiated coverage on shares of Indivior in a research note on Tuesday, January 28th. They set a “buy” rating and a $16.00 price target on the stock.

Indivior Stock Up 10.2 %

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

Hedge Funds Weigh In On Indivior

Large investors have recently modified their holdings of the company. Mediolanum International Funds Ltd purchased a new stake in shares of Indivior in the third quarter worth about $1,240,000. VELA Investment Management LLC lifted its stake in Indivior by 722.9% during the third quarter. VELA Investment Management LLC now owns 123,435 shares of the company’s stock worth $1,212,000 after purchasing an additional 108,435 shares during the last quarter. AlphaCentric Advisors LLC bought a new position in shares of Indivior in the 3rd quarter worth about $2,364,000. Valence8 US LP acquired a new stake in shares of Indivior during the 3rd quarter worth approximately $564,000. Finally, Clark Estates Inc. NY acquired a new stake in Indivior in the third quarter worth $2,477,000. 60.33% of the stock is currently owned by hedge funds and other institutional investors.

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.