Indivior price target lowered to $15 from $22 at Piper Sandler

Piper Sandler lowered the firm’s price target on Indivior to $15 from $22 and keeps an Overweight rating on the shares. Indivior again reduced its 2024 expectations for Sublocade, this time due to competitive dynamics associated with Braeburn’s Brixadi, variability across criminal justice system accounts, and inventory headwinds, the analyst tells investors in a research note. The firm says management’s problem is the inability to set appropriate expectations as opposed to “something intrinsically troubling” about Sublocade.