Inotiv’s (NOTV) Buy Rating Reiterated at Colliers Securities

Colliers Securities restated their buy rating on shares of Inotiv (NASDAQ:NOTV) in a research note issued to investors on Wednesday morning, Price Targets.com reports.

Separately, Craig Hallum initiated coverage on shares of Inotiv in a research note on Monday, September 20th. They set a buy rating and a $45.00 price target on the stock.

NOTV stock opened at $34.32 on Wednesday. Inotiv has a 12-month low of $4.66 and a 12-month high of $50.33. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.32. The stock has a market cap of $546.20 million, a P/E ratio of -85.80 and a beta of 2.09. The business has a 50 day moving average of $29.31.

Inotiv (NASDAQ:NOTV) last released its earnings results on Wednesday, August 11th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). Inotiv had a negative return on equity of 14.51% and a negative net margin of 6.83%. The company had revenue of $22.89 million during the quarter. As a group, analysts expect that Inotiv will post -0.37 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Morgan Stanley grew its stake in Inotiv by 8,541.0% in the 2nd quarter. Morgan Stanley now owns 22,121 shares of the company’s stock valued at $590,000 after buying an additional 21,865 shares during the last quarter. Invesco Ltd. acquired a new position in Inotiv in the 2nd quarter valued at $203,000. Metropolitan Life Insurance Co NY acquired a new position in Inotiv in the 2nd quarter valued at $108,000. MetLife Investment Management LLC acquired a new position in Inotiv in the 2nd quarter valued at $142,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Inotiv in the 2nd quarter valued at $214,000. Institutional investors and hedge funds own 43.02% of the company’s stock.

About Inotiv

Inotiv, Inc operates as a pharmaceutical development company, which engages in the provision of drug discovery, development services, and analytical instruments. The firm operates through the following business segments: Contract Research Services and Research Products. The Contract Research Services segment provides screening and pharmacological testing, preclinical safety testing, formulation development, regulatory compliance, and quality control testing.

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