Inotiv (NASDAQ:NOTV) Rating Increased to Buy at Lake Street Capital

Inotiv (NASDAQ:NOTV) was upgraded by Lake Street Capital from a “hold” rating to a “buy” rating in a research report issued on Monday, Benzinga reports. The firm presently has a $4.00 price objective on the stock, up from their previous price objective of $2.00. Lake Street Capital’s price target would indicate a potential upside of 118.58% from the company’s current price.

Inotiv Stock Up 7.6 %

Shares of NOTV stock opened at $1.83 on Monday. Inotiv has a 1 year low of $1.23 and a 1 year high of $11.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.23 and a current ratio of 0.31. The business’s fifty day moving average is $1.62 and its 200-day moving average is $3.17. The stock has a market cap of $47.53 million, a PE ratio of -0.66 and a beta of 3.39.

Inotiv (NASDAQ:NOTV) 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). Inotiv had a negative return on equity of 15.55% and a negative net margin of 19.80%. The business had revenue of $105.79 million during the quarter, compared to the consensus estimate of $123.74 million. Equities analysts expect that Inotiv will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inotiv

A number of institutional investors and hedge funds have recently modified their holdings of NOTV. American Century Companies Inc. grew its holdings in shares of Inotiv by 109.6% in the 2nd quarter. American Century Companies Inc. now owns 295,589 shares of the company’s stock worth $491,000 after acquiring an additional 154,541 shares during the last quarter. King Luther Capital Management Corp increased its stake in Inotiv by 101.4% in the 2nd quarter. King Luther Capital Management Corp now owns 198,600 shares of the company’s stock worth $330,000 after purchasing an additional 100,000 shares in the last quarter. KPP Advisory Services LLC raised its holdings in Inotiv by 46.4% during the 4th quarter. KPP Advisory Services LLC now owns 166,076 shares of the company’s stock worth $609,000 after buying an additional 52,603 shares during the period. Blue Edge Capital LLC purchased a new stake in Inotiv during the first quarter valued at about $459,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Inotiv by 29.9% in the second quarter. Renaissance Technologies LLC now owns 164,164 shares of the company’s stock worth $273,000 after buying an additional 37,800 shares during the period. Institutional investors and hedge funds own 18.17% of the company’s stock.

Inotiv Company Profile

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.