UPDATE: Craig-Hallum Starts Inotiv Inc. (NOTV) at Buy

Craig-Hallum analyst Matthew Hewitt initiates coverage on Inotiv Inc. (NASDAQ: NOTV) with a Buy rating and a price target of $45.00.

The analyst comments "In recent quarters, Inotiv has been winning larger and larger programs, a trend we expect to continue following last quarter’s acquisition of HistoTox Labs and Bolder BioPATH. Additionally, we believe Inotiv has only ~20% customer overlap with these companies, creating significant cross-selling potential. With capabilities being added related to large molecule drugs and significant demand being seen for medical device testing services, we see numerous avenues for growth over the near-term. Longer term, we believe Inotiv can sustainably grow revenue at a rate of 20%+ organically and 30%+ if the company remains acquisitive."

For an analyst ratings summary and ratings history on Inotiv Inc. click here. For more ratings news on Inotiv Inc. click here.

Shares of Inotiv Inc. closed at $35.09 yesterday.

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