In the latest market developments, Inotiv (NOTV) saw a significant drop in its share price, falling by 50% to $1.42 as the trading session neared its close. This steep decline follows an announcement by the Food and Drug Administration (FDA) that it will replace animal testing with more effective and human-relevant methods in the development of monoclonal antibody therapies and other drugs. The decision signifies a major shift in regulatory strategy, impacting companies reliant on traditional testing methods.
The announcement also adversely affected Charles River Laboratories (CRL, Financial), whose share price dropped approximately 30%, settling at $98.45 towards the end of the trading day. Both companies have traditionally been involved in animal-based testing procedures, which are now set to be phased out, contributing to the sharp decline in their stock values.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 15 analysts, the average target price for Charles River Laboratories International Inc (CRL, Financial) is $174.33 with a high estimate of $215.00 and a low estimate of $130.00. The average target implies an upside of 74.42% from the current price of $99.95. More detailed estimate data can be found on the Charles River Laboratories International Inc (CRL) Forecast page.
Based on the consensus recommendation from 20 brokerage firms, Charles River Laboratories International Inc's (CRL, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Charles River Laboratories International Inc (CRL, Financial) in one year is $204.97, suggesting a upside of 105.07% from the current price of $99.95. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Charles River Laboratories International Inc (CRL) Summary page.
