Rodman & Renshaw Initiates Coverage on Indivior (NASDAQ:INDV)

Rodman & Renshaw started coverage on shares of Indivior (NASDAQ:INDV) in a research note published on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $16.00 price target on the stock.

INDV has been the subject of a number of other research reports. Piper Sandler restated an “overweight” rating and issued a $16.00 target price (up previously from $15.00) on shares of Indivior in a research report on Friday, October 25th. Craig Hallum cut their price objective 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.

Indivior Stock Up 1.7 %

NASDAQ INDV opened at $12.22 on Tuesday. The stock’s 50-day simple moving average is $11.72 and its two-hundred day simple moving average is $11.01. Indivior has a twelve month low of $7.33 and a twelve month high of $23.22. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -305.42 and a beta of 0.74.

Hedge Funds Weigh In On Indivior

Several institutional investors and hedge funds have recently bought and sold shares of INDV. VELA Investment Management LLC boosted its stake in shares of Indivior by 722.9% during the third quarter. VELA Investment Management LLC now owns 123,435 shares of the company’s stock valued at $1,212,000 after purchasing an additional 108,435 shares during the period. Stifel Financial Corp bought a new stake in Indivior during the 3rd quarter valued at $100,000. AlphaCentric Advisors LLC purchased a new stake in Indivior during the 3rd quarter valued at $2,364,000. Millennium Management LLC grew its holdings in Indivior by 48.1% in the 2nd quarter. Millennium Management LLC now owns 493,313 shares of the company’s stock worth $7,952,000 after acquiring an additional 160,282 shares during the last quarter. Finally, Clark Estates Inc. NY purchased a new position in shares of Indivior in the third quarter valued at about $2,477,000. 60.33% of the stock is currently owned by institutional investors.

About Indivior

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.