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

Simulations Plus (NASDAQ:SLP) had its price target dropped by equities researchers at BTIG Research from $60.00 to $50.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. BTIG Research’s price target indicates a potential upside of 62.97% from the company’s previous close.

SLP has been the subject of several other reports. William Blair reissued an “outperform” rating on shares of Simulations Plus in a report on Thursday, September 12th. JMP Securities began coverage on Simulations Plus in a research note on Tuesday, July 16th. They set a “market perform” rating on the stock. Craig Hallum reiterated a “buy” rating and issued a $56.00 target price on shares of Simulations Plus in a research report on Wednesday, July 3rd. Finally, KeyCorp started 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

Simulations Plus Price Performance

NASDAQ:SLP 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 has a market cap of $613.91 million, a P/E ratio of 63.92 and a beta of 0.69. The firm has a 50-day moving average of $33.08 and a two-hundred day moving average of $40.63.

Simulations Plus (NASDAQ:SLP) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Simulations Plus had a return on equity of 7.80% and a net margin of 14.36%. The firm had revenue of $18.70 million during the quarter, compared to analyst estimates of $19.73 million. During the same quarter last year, the firm earned $0.18 EPS. Simulations Plus’s quarterly revenue was up 19.9% on a year-over-year basis. As a group, equities analysts expect 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 business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $39.63, for a total transaction of $792,600.00. Following the completion of the transaction, the director now owns 3,521,592 shares in the company, valued at $139,560,690.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 60,750 shares of company stock valued at $2,145,055. 20.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Simulations Plus

Several hedge funds and other institutional investors have recently made changes to their positions in SLP. Azzad Asset Management Inc. ADV boosted its position in Simulations Plus by 3.6% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 8,007 shares of the technology company’s stock worth $389,000 after acquiring an additional 280 shares during the period. InTrack Investment Management Inc lifted its holdings in Simulations Plus by 1.1% in the second quarter. InTrack Investment Management Inc now owns 31,665 shares of the technology company’s stock worth $1,540,000 after purchasing an additional 330 shares during the period. Chatham Capital Group Inc. grew its position in Simulations Plus by 1.3% in the 2nd quarter. Chatham Capital Group Inc. now owns 34,554 shares of the technology company’s stock valued at $1,680,000 after buying an additional 450 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Simulations Plus by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,391 shares of the technology company’s stock valued at $311,000 after buying an additional 456 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Simulations Plus by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,048 shares of the technology company’s stock valued at $414,000 after buying an additional 562 shares during the period. 78.08% of the stock is currently owned by institutional investors and hedge funds.

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.