Indivior (NASDAQ:INDV) Shares Gap Up on Better-Than-Expected Earnings

Indivior PLC (NASDAQ:INDV) shares gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $9.45, but opened at $10.40. Indivior shares last traded at $10.28, with a volume of 250,327 shares traded.

The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.19. The firm had revenue of $266.00 million for the quarter, compared to analyst estimates of $240.13 million. Indivior had a negative return on equity of 241.73% and a negative net margin of 3.96%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on INDV shares. RODMAN&RENSHAW raised shares of Indivior to a “strong-buy” rating in a research note on Tuesday, January 28th. Rodman & Renshaw began coverage on Indivior in a research report on Tuesday, January 28th. They issued a “buy” rating and a $16.00 target price for the company. Finally, Piper Sandler cut their price target on Indivior from $16.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in INDV. Rathbones Group PLC raised its stake in shares of Indivior by 11.6% in the fourth quarter. Rathbones Group PLC now owns 14,284 shares of the company’s stock worth $183,000 after purchasing an additional 1,483 shares during the last quarter. Two Sigma Investments LP grew its holdings in Indivior by 2.1% during the fourth quarter. Two Sigma Investments LP now owns 110,880 shares of the company’s stock worth $1,378,000 after buying an additional 2,237 shares in the last quarter. Stifel Financial Corp raised its position in Indivior by 24.0% in the 4th quarter. Stifel Financial Corp now owns 12,675 shares of the company’s stock valued at $158,000 after buying an additional 2,450 shares during the last quarter. PDT Partners LLC lifted its stake in Indivior by 4.7% during the 4th quarter. PDT Partners LLC now owns 57,520 shares of the company’s stock valued at $715,000 after acquiring an additional 2,596 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in Indivior during the 4th quarter worth $36,000. 60.33% of the stock is currently owned by institutional investors and hedge funds.

Indivior Stock Performance

The company’s 50 day moving average price is $9.47 and its 200-day moving average price is $10.30. The stock has a market cap of $1.48 billion, a P/E ratio of -30.74 and a beta of 0.93.

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.