Inotiv (NASDAQ:NOTV) Given New $10.00 Price Target at Craig Hallum

Inotiv (NASDAQ:NOTV - Free Report) had its price objective lowered by Craig Hallum from $25.00 to $10.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Jefferies Financial Group cut Inotiv from a buy rating to a hold rating and cut their price objective for the stock from $11.50 to $3.75 in a research report on Tuesday.

Inotiv Stock Down 4.5 %

Inotiv stock traded down $0.10 during midday trading on Thursday, reaching $2.14. The stock had a trading volume of 997,392 shares, compared to its average volume of 477,152. The company has a fifty day moving average price of $6.72 and a two-hundred day moving average price of $4.78. The company has a market capitalization of $55.19 million, a P/E ratio of -1.62 and a beta of 3.37. The company has a current ratio of 1.74, a quick ratio of 1.28 and a debt-to-equity ratio of 1.46. Inotiv has a 12 month low of $1.61 and a 12 month high of $11.42.

Institutional Investors Weigh In On Inotiv

Institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC purchased a new position in Inotiv during the third quarter valued at $46,000. Corton Capital Inc. bought a new position in shares of Inotiv during the third quarter valued at approximately $58,000. Vanguard Personalized Indexing Management LLC purchased a new position in Inotiv during the fourth quarter valued at $77,000. Lazard Asset Management LLC purchased a new stake in Inotiv during the 1st quarter valued at about $266,000. Finally, Denali Advisors LLC purchased a new stake in shares of Inotiv during the first quarter valued at approximately $277,000. Hedge funds and other institutional investors own 18.17% of the company's stock.

About Inotiv

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.