Inotiv (NASDAQ:NOTV) Lifted to “Buy” at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Inotiv (NASDAQ:NOTVFree Report) from a hold rating to a buy rating in a research note published on Friday morning, reports. Jefferies Financial Group currently has $11.50 price objective on the stock, up from their previous price objective of $3.00.

Separately, Craig Hallum lowered their price objective on shares of Inotiv from $34.00 to $25.00 and set a buy rating for the company in a research report on Tuesday, December 12th.

View Our Latest Research Report on Inotiv

Inotiv Price Performance

Shares of NASDAQ NOTV opened at $5.44 on Friday. The stock has a market capitalization of $140.30 million, a price-to-earnings ratio of -4.18 and a beta of 2.87. Inotiv has a 12 month low of $1.61 and a 12 month high of $8.28. The firm’s 50 day simple moving average is $3.61 and its 200-day simple moving average is $3.34. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.74 and a quick ratio of 1.28.

Inotiv (NASDAQ:NOTVGet Free Report) last released its quarterly earnings results on Monday, December 11th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.40). The company had revenue of $140.74 million during the quarter, compared to analyst estimates of $140.21 million. Inotiv had a negative net margin of 5.67% and a negative return on equity of 10.99%. Analysts expect that Inotiv will post 0.41 EPS for the current year.

Insider Buying and Selling

In other news, COO John Gregory Beattie bought 47,966 shares of the stock in a transaction dated Thursday, December 14th. The shares were acquired at an average price of $3.12 per share, with a total value of $149,653.92. Following the completion of the acquisition, the chief operating officer now directly owns 111,761 shares in the company, valued at $348,694.32. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Inotiv

A number of institutional investors have recently modified their holdings of the company. Oak Family Advisors LLC boosted its stake in shares of Inotiv by 230.8% in the second quarter. Oak Family Advisors LLC now owns 108,985 shares of the company’s stock valued at $520,000 after purchasing an additional 76,044 shares during the period. Wasatch Advisors LP lifted its stake in Inotiv by 10.4% during the second quarter. Wasatch Advisors LP now owns 1,660,003 shares of the company’s stock valued at $7,918,000 after buying an additional 156,910 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Inotiv by 182.9% during the third quarter. Tower Research Capital LLC TRC now owns 11,318 shares of the company’s stock valued at $35,000 after buying an additional 7,317 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Inotiv by 242.7% in the fourth quarter. Legal & General Group Plc now owns 5,775 shares of the company’s stock worth $29,000 after purchasing an additional 4,090 shares in the last quarter. Finally, Osaic Holdings Inc. raised its position in Inotiv by 218.9% during the second quarter. Osaic Holdings Inc. now owns 5,820 shares of the company’s stock valued at $28,000 after acquiring an additional 3,995 shares in the last quarter. Institutional investors and hedge funds own 30.30% 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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