Shares of Indivior PLC (LON:INDV) fell 27.1% on Friday . The stock traded as low as GBX 355.20 ($4.73) and last traded at GBX 360.50 ($4.80). 13,689,481 shares changed hands during mid-day trading, an increase of 461% from the average session volume of 2,440,000 shares. The stock had previously closed at GBX 494.50 ($6.58).
INDV has been the subject of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 630 ($8.39) price objective on shares of Indivior in a research note on Friday. Citigroup downgraded shares of Indivior to a “neutral” rating and upped their price objective for the company from GBX 490 ($6.52) to GBX 500 ($6.66) in a research note on Tuesday, May 15th. Numis Securities reaffirmed a “buy” rating and set a GBX 640 ($8.52) price objective on shares of Indivior in a research note on Friday, March 16th. Royal Bank of Canada upped their price objective on shares of Indivior from GBX 540 ($7.19) to GBX 550 ($7.32) and gave the company an “outperform” rating in a research note on Friday. Finally, Morgan Stanley upped their price objective on shares of Indivior from GBX 450 ($5.99) to GBX 455 ($6.06) and gave the company an “equal weight” rating in a research note on Tuesday, April 3rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Indivior currently has a consensus rating of “Buy” and a consensus price target of GBX 522.50 ($6.96).
Indivior PLC, together with its subsidiaries, develops, manufactures, and sells buprenorphine-based prescription drugs for the treatment of opioid dependence. The company's product pipeline focuses on treating opioid use disorder, alcohol use disorder, overdose rescue, and schizophrenia. It markets and promotes SUBLOCADE injection for subcutaneous use; and SUBOXONE sublingual film, SUBOXONE sublingual tablet, and SUBUTEX sublingual tablet, as well as sells legacy analgesic products that include Temgesic, Burpex, and Buprenex.
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