Craig-Hallum analyst Matt Hewitt lowered the firm’s price target on Inotiv to $10 from $25 and keeps a Buy rating on the shares. While the funding market has improved and legal issues are being resolved, the company continues to face headwinds in the form of lower demand from early-stage discovery work and dislocation within the NHP market. Importantly, Craig-Hallum believes that resolution of the Cumberland PA situation removes a significant overhang, and the company currently maintains sufficient liquidity.
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