On Wednesday, an unusual options trade took place, and Inotiv, Inc. (NASDAQ: NOTV), the target of the trade, was the center of attention. Investors purchased a total of 1,940 call options on the company’s equity. This demonstrates an increase of approximately 344% compared to the typical volume of 437 call options.
Recent comments contain the viewpoints of several equity analysts who were asked about the company. You can read their responses here. In a research note released on Wednesday, Lake Street Capital changed its recommendation for the stock of Inotiv from “hold” to “buy” and set a price objective of $10.00 for the share price. In addition, the firm established a price target of $10.00 for the stock. In a report made public on Wednesday, Craig Hallum lowered the price objective they had established for Inotiv shares. The previous price target of $64.00 has been revised downward to $34.00. After having been assigned a rating of “c-” in the past, the stock of Inotiv was assigned a rating of “d+” by TheStreet on November 9th. In a report finally published on October 4th, Jefferies Financial Group began covering Inotiv shares after having done so for several weeks before that date. They advocate “buying” the company’s stock and have determined that a price target of $27 is appropriate.
Not too long ago, several hedge funds and other types of institutional investors adjusted the percentage of NOTV stock they held in their portfolios. At the end of the third quarter, Point72 Asset Management L.P. had a holdings increase in Inotiv of 199.0% compared to the beginning of the quarter. After the acquisition of an additional 345,376 shares during the most recent quarter, Point72 Asset Management L.P. now has 518,937 shares. These shares have a combined value of $8,744,000. During the second quarter, Thrivent Financial for Lutherans made a 124.2% increase in the total amount of money it had invested in Inotiv. Thrivent Financial for Lutherans now holds 432,654 shares following the purchase of an additional 239,674 during the most recent quarter. The current market value of Thrivent Financial for Lutherans’ stock holdings is $4,153,000. Finally, the firm Marshall Wace LLP increased its stock holdings of Inotiv by a staggering 431.0% during the third quarter of this year. After the purchase of 210,004 additional shares during the most recent fiscal quarter, Marshall Wace LLP now has a total of 258,731 shares of the company’s stock, valued at $4,355,000. This brings the total number of shares owned by the firm to 258,731. In addition, Loomis Sayles & Co. L.P. bought a 4.23 million dollar stake in Inotiv during the first three months of 2018. Cars Capital Management L.P., not to be outdone, made a further investment in Inotiv during the third quarter by purchasing additional shares for $2,454,000. The majority of the company’s stock, or 52.04 percent, is owned by various institutional investors.
71,985 NASDAQ NOTVs were traded on Wednesday, resulting in an increase of $1.51 to $7.10 per share in the stock price. This is a significant decrease compared to the daily average number of shares traded by the company, which is 653,114. The cost of an annual subscription to Inotiv can range anywhere from $3.64 to $42.63, depending on when you buy it. The simple moving average price of the company’s shares over the past 50 days is $7.87, while the average price over the last 200 days is $14.62. The company’s price-to-earnings ratio is -1.73, and its beta value is 2.43. The company’s current market value is 181.72 million dollars. The debt-to-equity ratio is calculated to be 0.54, the quick ratio is calculated to be 1.15, and the current ratio is calculated to be 1.60.
A company that goes by the name of Inotiv, Inc. distributes analytical tools to pharmaceutical development and contract research businesses. In addition to providing drug discovery and development services to the pharmaceutical, chemical, and medical device sectors, this company is also serving as a provider of these services. The company comprises two separate business divisions: the research products division and the contract research services division.