Craig Hallum Issues Pessimistic Forecast for Simulations Plus (NASDAQ:SLP) Stock Price

Simulations Plus (NASDAQ:SLP - Get Free Report) had its price target reduced by investment analysts at Craig Hallum from $45.00 to $36.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Craig Hallum's price target would suggest a potential upside of 88.78% from the company's current price.

SLP has been the subject of a number of other reports. Wall Street Zen raised shares of Simulations Plus from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. William Blair reaffirmed an "outperform" rating on shares of Simulations Plus in a report on Tuesday, June 3rd. Finally, KeyCorp lifted their target price on shares of Simulations Plus from $32.00 to $40.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $46.00.

Simulations Plus Price Performance

SLP traded down $0.98 during trading on Friday, reaching $19.07. 946,113 shares of the company's stock were exchanged, compared to its average volume of 239,558. Simulations Plus has a 1 year low of $18.68 and a 1 year high of $49.71. The stock has a market capitalization of $383.52 million, a P/E ratio of 47.68 and a beta of 0.97. The company's fifty day simple moving average is $30.74 and its 200-day simple moving average is $30.23.

Simulations Plus (NASDAQ:SLP - Get Free Report) last posted its quarterly earnings results on Thursday, April 3rd. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.06. Simulations Plus had a net margin of 10.97% and a return on equity of 6.84%. The company had revenue of $22.43 million during the quarter, compared to analyst estimates of $21.93 million. During the same period last year, the firm posted $0.20 EPS. Simulations Plus's revenue for the quarter was up 22.5% compared to the same quarter last year. Equities analysts forecast that Simulations Plus will post 1.09 EPS for the current year.

Insider Activity

In related news, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $33.51, for a total value of $670,200.00. Following the sale, the director now owns 3,344,157 shares of the company's stock, valued at approximately $112,062,701.07. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 19.40% of the company's stock.

Institutional Investors Weigh In On Simulations Plus

A number of institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its stake in Simulations Plus by 2.1% in the 1st quarter. Rhumbline Advisers now owns 66,222 shares of the technology company's stock valued at $1,624,000 after acquiring an additional 1,334 shares during the period. Woodline Partners LP grew its stake in Simulations Plus by 32.1% in the 1st quarter. Woodline Partners LP now owns 13,239 shares of the technology company's stock valued at $325,000 after acquiring an additional 3,220 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Simulations Plus in the 1st quarter valued at $255,000. Uniplan Investment Counsel Inc. grew its stake in Simulations Plus by 141.8% in the 1st quarter. Uniplan Investment Counsel Inc. now owns 144,202 shares of the technology company's stock valued at $3,536,000 after acquiring an additional 84,562 shares during the period. Finally, NFJ Investment Group LLC acquired a new stake in Simulations Plus in the 1st quarter valued at $1,254,000. Institutional investors and hedge funds 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.