Simulations Plus (NASDAQ:SLP) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research report issued on Wednesday, Zacks.com reports.
According to Zacks, "Simulations Plus, Inc., is a premier developer of groundbreaking drug discovery and development simulation software, which is licensed to and used in the conduct of drug research by major pharmaceutical and biotechnology companies worldwide. They have two other businesses, Words+, Inc. and FutureLab, which are based on its proprietary software technologies. "
Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Simulations Plus from a "buy" rating to a "hold" rating in a research note on Tuesday, September 1st. Oppenheimer assumed coverage on shares of Simulations Plus in a research note on Tuesday, September 8th. They set an "outperform" rating and a $79.00 price target for the company. Finally, Craig Hallum raised their price target on shares of Simulations Plus from $56.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of "Hold" and an average target price of $75.00.
Shares of NASDAQ:SLP opened at $66.11 on Wednesday. The company's 50 day moving average price is $63.06 and its two-hundred day moving average price is $49.02. Simulations Plus has a 12-month low of $26.00 and a 12-month high of $73.58. The firm has a market cap of $1.18 billion, a PE ratio of 132.22, a PEG ratio of 6.76 and a beta of -0.19.
Simulations Plus (NASDAQ:SLP) last posted its quarterly earnings results on Thursday, July 9th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.06 by $0.14. The business had revenue of $12.30 million for the quarter, compared to analyst estimates of $10.58 million. Simulations Plus had a net margin of 22.96% and a return on equity of 24.44%. Analysts forecast that Simulations Plus will post 0.53 earnings per share for the current fiscal year.
In other news, Director Walter S. Woltosz sold 24,000 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $66.13, for a total transaction of $1,587,120.00. Following the completion of the sale, the director now directly owns 4,779,153 shares in the company, valued at $316,045,387.89. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 28.96% of the company's stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE grew its holdings in shares of Simulations Plus by 51.8% during the second quarter. US Bancorp DE now owns 987 shares of the technology company's stock valued at $59,000 after buying an additional 337 shares during the last quarter. Swiss National Bank lifted its position in shares of Simulations Plus by 1.7% during the first quarter. Swiss National Bank now owns 23,900 shares of the technology company's stock valued at $835,000 after purchasing an additional 400 shares in the last quarter. Martingale Asset Management L P lifted its position in shares of Simulations Plus by 0.6% during the first quarter. Martingale Asset Management L P now owns 94,408 shares of the technology company's stock valued at $3,298,000 after purchasing an additional 600 shares in the last quarter. First Light Asset Management LLC lifted its position in shares of Simulations Plus by 0.6% during the second quarter. First Light Asset Management LLC now owns 123,984 shares of the technology company's stock valued at $7,417,000 after purchasing an additional 681 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Simulations Plus by 5.0% during the first quarter. Victory Capital Management Inc. now owns 15,031 shares of the technology company's stock valued at $525,000 after purchasing an additional 713 shares in the last quarter. Hedge funds and other institutional investors own 59.61% of the company's stock.
Simulations Plus Company Profile
Simulations Plus, Inc develops drug discovery and development software for mechanistic modeling and simulation, and machine-learning-based prediction of properties of molecules from their structure worldwide. The company offers GastroPlus, which simulates the absorption, pharmacokinetics (PK), pharmacodynamics, and drug-drug interactions of compounds administered to humans and animals; DDDPlus that simulates in vitro laboratory experiments that measure the rate of dissolution of the drug and additives in a dosage form; and MembranePlus, which simulates laboratory experiments.
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