Equities Analysts Issue Forecasts for Inotiv, Inc.’s Q1 2023 Earnings (NASDAQ:NOTV)

Inotiv, Inc. (NASDAQ:NOTV – Get Rating) – Equities research analysts at Jefferies Financial Group issued their Q1 2023 earnings per share estimates for Inotiv in a note issued to investors on Thursday, January 19th. Jefferies Financial Group analyst D. Windley forecasts that the company will earn ($0.44) per share for the quarter. Jefferies Financial Group has a “Hold” rating and a $8.00 price target on the stock. The consensus estimate for Inotiv’s current full-year earnings is $1.57 per share. Jefferies Financial Group also issued estimates for Inotiv’s Q2 2023 earnings at $0.04 EPS, Q3 2023 earnings at $0.29 EPS and Q4 2023 earnings at $0.46 EPS.

A number of other analysts have also recently commented on the stock. TheStreet cut shares of Inotiv from a “c-” rating to a “d+” rating in a research note on Wednesday, November 9th. Craig Hallum reduced their price target on Inotiv from $64.00 to $34.00 in a report on Wednesday, January 11th. Finally, Lake Street Capital upgraded Inotiv from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Wednesday, January 11th.

Inotiv Trading Up 5.4 %

NASDAQ NOTV opened at $6.60 on Friday. Inotiv has a 12 month low of $3.64 and a 12 month high of $42.63. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average of $6.33 and a 200-day moving average of $14.42. The company has a market cap of $169.01 million, a PE ratio of -0.48 and a beta of 2.43.

Institutional Trading of Inotiv

Several hedge funds and other institutional investors have recently modified their holdings of NOTV. UBS Group AG acquired a new stake in Inotiv during the third quarter worth approximately $50,000. Quantbot Technologies LP boosted its stake in Inotiv by 30.8% in the 2nd quarter. Quantbot Technologies LP now owns 7,120 shares of the company’s stock valued at $68,000 after purchasing an additional 1,678 shares during the period. Amalgamated Bank acquired a new position in Inotiv in the 1st quarter valued at $78,000. JPMorgan Chase & Co. increased its position in Inotiv by 13.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 9,420 shares of the company’s stock worth $90,000 after buying an additional 1,136 shares during the period. Finally, Next Capital Management LLC acquired a new stake in shares of Inotiv during the fourth quarter worth $99,000. Institutional investors own 52.04% of the company’s stock.

Inotiv Company Profile

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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: Research Services and Research Products. The Research Services segment provides screening and pharmacological testing, preclinical safety testing, formulation development, regulatory compliance, and quality control testing.