Inotiv (NASDAQ:NOTV) Upgraded to “Buy” at Lake Street Capital

by · The Markets Daily

Lake Street Capital upgraded shares of Inotiv (NASDAQ:NOTV – Free Report) from a hold rating to a buy rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. Lake Street Capital currently has $4.00 price objective on the stock, up from their previous price objective of $2.00.

Inotiv Price Performance

NASDAQ:NOTV opened at $1.97 on Monday. The stock has a 50 day moving average of $1.62 and a two-hundred day moving average of $3.16. Inotiv has a 12 month low of $1.23 and a 12 month high of $11.42. The firm has a market cap of $51.16 million, a P/E ratio of -0.71 and a beta of 3.38. The company has a current ratio of 0.31, a quick ratio of 0.23 and a debt-to-equity ratio of 0.02.

Inotiv (NASDAQ:NOTV – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.11). The firm had revenue of $105.79 million for the quarter, compared to analysts’ expectations of $123.74 million. Inotiv had a negative return on equity of 15.55% and a negative net margin of 19.80%. On average, analysts expect that Inotiv will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inotiv

Hedge funds and other institutional investors have recently made changes to their positions in the stock. KPP Advisory Services LLC grew its holdings in shares of Inotiv by 46.4% in the fourth quarter. KPP Advisory Services LLC now owns 166,076 shares of the company’s stock valued at $609,000 after purchasing an additional 52,603 shares during the period. Denali Advisors LLC purchased a new stake in shares of Inotiv in the 1st quarter valued at approximately $277,000. Vanguard Group Inc. increased its holdings in shares of Inotiv by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 1,043,460 shares of the company’s stock worth $11,415,000 after buying an additional 10,146 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Inotiv during the 1st quarter valued at approximately $266,000. Finally, Blue Edge Capital LLC acquired a new position in Inotiv in the first quarter valued at approximately $459,000. Institutional investors and hedge funds own 18.17% of the company’s stock.

Inotiv Company Profile

(Get Free Report)

Inotiv, Inc provides nonclinical and analytical drug discovery and development services to the pharmaceutical and medical device industries. It operates through two segment: Discovery and Safety Assessment (DSA), and Research Models and Services (RMS). The DMS segment manufactured scientific instruments for life sciences research and the related software for use by pharmaceutical companies, universities, government research centers, and medical research institutions under the Company's BASi product line.

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