Indivior (NASDAQ:INDV) Shares Down 4.7% - What's Next?

Indivior PLC (NASDAQ:INDV - Get Free Report)'s share price was down 4.7% on Wednesday . The stock traded as low as $10.92 and last traded at $10.86. Approximately 350,553 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 1,104,098 shares. The stock had previously closed at $11.40.

Wall Street Analysts Forecast Growth

INDV has been the subject of a number of research reports. Rodman & Renshaw assumed coverage on shares of Indivior in a research report on Tuesday, January 28th. They set a "buy" rating and a $16.00 target price for the company. RODMAN&RENSHAW upgraded Indivior to a "strong-buy" rating in a research report on Tuesday, January 28th. Finally, Piper Sandler reiterated an "overweight" rating and set a $16.00 target price (up previously from $15.00) on shares of Indivior in a report on Friday, October 25th.

Indivior Price Performance

The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -252.19 and a beta of 0.73. The stock's 50-day moving average is $11.73 and its 200-day moving average is $11.03.

Hedge Funds Weigh In On Indivior

Large investors have recently modified their holdings of the company. Kazazian Asset Management LLC purchased a new stake in shares of Indivior in the fourth quarter worth about $1,706,000. Amundi lifted its position in Indivior by 12.2% during the 4th quarter. Amundi now owns 174,434 shares of the company's stock worth $2,109,000 after acquiring an additional 19,010 shares in the last quarter. Clark Estates Inc. NY boosted its holdings in Indivior by 1.3% in the 4th quarter. Clark Estates Inc. NY now owns 257,400 shares of the company's stock worth $3,199,000 after acquiring an additional 3,300 shares during the period. VELA Investment Management LLC grew its position in Indivior by 45.5% in the fourth quarter. VELA Investment Management LLC now owns 179,659 shares of the company's stock valued at $2,264,000 after acquiring an additional 56,224 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Indivior in the fourth quarter valued at approximately $56,000. 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.