Indivior (NASDAQ:INDV) Raised to Strong-Buy at RODMAN&RENSHAW

Indivior (NASDAQ:INDV) was upgraded by analysts at RODMAN&RENSHAW to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on INDV. Rodman & Renshaw assumed coverage on Indivior in a report on Tuesday. They set a “buy” rating and a $16.00 price objective on the stock. Craig Hallum lowered their target price on shares of Indivior from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $16.00 target price (up from $15.00) on shares of Indivior in a report on Friday, October 25th.

Indivior Stock Down 0.6 %

INDV opened at $12.15 on Tuesday. The company has a 50-day simple moving average of $11.72 and a 200 day simple moving average of $11.01. Indivior has a twelve month low of $7.33 and a twelve month high of $23.22. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -303.67 and a beta of 0.74.

Institutional Investors Weigh In On Indivior

Large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP lifted its stake in shares of Indivior by 493.2% in the 2nd quarter. Marshall Wace LLP now owns 73,732 shares of the company’s stock valued at $1,189,000 after acquiring an additional 61,302 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Indivior by 32.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,236 shares of the company’s stock worth $407,000 after buying an additional 6,121 shares during the period. Millennium Management LLC increased its stake in shares of Indivior by 48.1% during the second quarter. Millennium Management LLC now owns 493,313 shares of the company’s stock valued at $7,952,000 after purchasing an additional 160,282 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in Indivior during the third quarter valued at $1,240,000. Finally, VELA Investment Management LLC boosted its stake in Indivior by 722.9% in the 3rd 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 in the last quarter. Institutional investors own 60.33% of the company’s stock.

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.