Indivior (NASDAQ:INDV) Shares Gap Down - Here's What Happened

Indivior PLC (NASDAQ:INDV - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $12.86, but opened at $12.58. Indivior shares last traded at $12.46, with a volume of 212,763 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their price objective on shares of Indivior from $16.00 to $13.00 and set an "overweight" rating for the company in a report on Thursday, March 6th.

Indivior Stock Performance

The company has a fifty day simple moving average of $10.77 and a two-hundred day simple moving average of $10.84. The firm has a market capitalization of $1.94 billion, a PE ratio of -40.24 and a beta of 0.66.

Indivior (NASDAQ:INDV - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.19. The business had revenue of $266.00 million for the quarter, compared to the consensus estimate of $240.13 million. Indivior had a negative return on equity of 241.73% and a negative net margin of 3.96%. On average, equities analysts anticipate that Indivior PLC will post 1.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Indivior

Several institutional investors and hedge funds have recently bought and sold shares of INDV. Deerfield Management Company L.P. Series C boosted its position in shares of Indivior by 74.4% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 8,883,160 shares of the company's stock worth $110,418,000 after purchasing an additional 3,790,518 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in 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 buying an additional 1,299,425 shares during the last quarter. Jane Street Group LLC boosted its holdings in Indivior by 2,597.9% in 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 in the last quarter. Claret Asset Management Corp purchased a new stake in shares of Indivior during the fourth quarter worth about $9,304,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Indivior during the first quarter worth about $6,328,000. 60.33% of the stock is 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.