Simulations Plus (NASDAQ:SLP) Price Target Cut to $50.00 by Analysts at BTIG Research

Simulations Plus (NASDAQ:SLP) had its price objective lowered by BTIG Research from $60.00 to $50.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other research analysts have also weighed in on the company. Craig Hallum reissued a “buy” rating and set a $56.00 price target on shares of Simulations Plus in a research note on Wednesday, July 3rd. William Blair reissued an “outperform” rating on shares of Simulations Plus in a research report on Thursday, September 12th. KeyCorp assumed coverage on shares of Simulations Plus in a research report on Monday, July 29th. They set an “overweight” rating and a $47.00 price target for the company. Finally, JMP Securities started coverage on shares of Simulations Plus in a report on Tuesday, July 16th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Simulations Plus currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

Simulations Plus Stock Performance

SLP stock opened at $30.68 on Thursday. Simulations Plus has a 1 year low of $29.37 and a 1 year high of $51.22. The stock’s 50 day moving average price is $33.08 and its 200 day moving average price is $40.56. The firm has a market cap of $613.91 million, a P/E ratio of 63.92 and a beta of 0.69.

Simulations Plus (NASDAQ:SLP) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $18.70 million for the quarter, compared to analyst estimates of $19.73 million. Simulations Plus had a return on equity of 7.80% and a net margin of 14.36%. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. On average, research analysts predict that Simulations Plus will post 0.54 earnings per share for the current year.

Insider Activity

In related news, Director Walter S. Woltosz sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $31.26, for a total transaction of $625,200.00. Following the completion of the sale, the director now directly owns 3,481,592 shares of the company’s stock, valued at approximately $108,834,565.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 60,750 shares of company stock valued at $2,145,055. Company insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Simulations Plus

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tributary Capital Management LLC increased its stake in Simulations Plus by 54.7% during the 3rd quarter. Tributary Capital Management LLC now owns 325,567 shares of the technology company’s stock worth $10,425,000 after buying an additional 115,122 shares during the period. Silvercrest Asset Management Group LLC acquired a new position in shares of Simulations Plus in the first quarter worth about $4,717,000. Wasatch Advisors LP boosted its holdings in Simulations Plus by 36.5% in the first quarter. Wasatch Advisors LP now owns 381,693 shares of the technology company’s stock valued at $15,707,000 after purchasing an additional 102,135 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Simulations Plus by 10.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 414,005 shares of the technology company’s stock valued at $20,128,000 after purchasing an additional 37,992 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Simulations Plus during the 2nd quarter worth approximately $1,320,000. Hedge funds and other institutional investors own 78.08% of the company’s stock.

About Simulations Plus

Simulations Plus, Inc develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services. It offers GastroPlus, which simulates the absorption and drug interaction of compounds administered to humans and animals; and DDDPlus and MembranePlus simulation products.