Inotiv price target lowered to $9 from $10 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Inotiv (NOTV) to $9 from $10 and keeps a Buy rating on the shares. While revenues and EPS came up short of expectations, the firm was encouraged by several other metrics/comments on the company’s earnings call. Specifically, book-to-bill bounced back above 1-turn, the last of the high cost NHP inventory has been worked through and the majority of this year’s NHP sales have been locked in via contracts.