Simulations Plus (NASDAQ:SLP) Price Target Lowered to $50.00 at BTIG Research

Simulations Plus (NASDAQ:SLP) had its target price trimmed by BTIG Research from $60.00 to $50.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

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

Simulations Plus Stock Down 1.6 %

Simulations Plus stock traded down $0.48 during midday trading on Thursday, reaching $30.48. The stock had a trading volume of 21,468 shares, compared to its average volume of 128,810. The firm has a market capitalization of $609.90 million, a PE ratio of 64.50 and a beta of 0.69. Simulations Plus has a 12 month low of $29.37 and a 12 month high of $51.22. The firm’s 50-day moving average price is $33.20 and its 200 day moving average price is $40.76.

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

Insiders Place Their Bets

In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $31.26, for a total value of $625,200.00. Following the sale, the director now owns 3,481,592 shares of the company’s stock, valued at $108,834,565.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 60,750 shares of company stock worth $2,145,055 in the last ninety days. 20.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Simulations Plus

A number of institutional investors have recently made changes to their positions in SLP. nVerses Capital LLC lifted its holdings in shares of Simulations Plus by 1,100.0% during the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the technology company’s stock worth $38,000 after acquiring an additional 1,100 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Simulations Plus in the 1st quarter worth about $57,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Simulations Plus in the 1st quarter worth about $70,000. Los Angeles Capital Management LLC bought a new position in shares of Simulations Plus during the 2nd quarter valued at about $206,000. Finally, Arizona State Retirement System purchased a new position in shares of Simulations Plus during the 2nd quarter valued at about $218,000. 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.