Inotiv (NASDAQ:NOTV) Upgraded at Lake Street Capital

Lake Street Capital upgraded shares of Inotiv (NASDAQ:NOTV) from a hold rating to a buy rating in a report released on Monday, Marketbeat reports. Lake Street Capital currently has $4.00 price objective on the stock, up from their prior price objective of $2.00.

Inotiv Price Performance

NOTV stock opened at $1.93 on Monday. The stock has a 50-day moving average price of $1.62 and a two-hundred day moving average price of $3.16. Inotiv has a 1 year low of $1.23 and a 1 year high of $11.42. The stock has a market cap of $50.12 million, a PE ratio of -0.70 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) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $105.79 million for the quarter, compared to the consensus estimate of $123.74 million. Equities analysts forecast that Inotiv will post -0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NOTV. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Inotiv during the 2nd quarter worth about $40,000. Lazard Asset Management LLC bought a new position in Inotiv in the first quarter valued at approximately $266,000. Denali Advisors LLC acquired a new position in shares of Inotiv during the 1st quarter worth approximately $277,000. Virtu Financial LLC bought a new stake in shares of Inotiv during the 1st quarter worth approximately $300,000. Finally, Blue Edge Capital LLC acquired a new stake in shares of Inotiv in the 1st quarter valued at approximately $459,000. 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.