Brokerages Set Simulations Plus, Inc. (NASDAQ:SLP) Price Target at $51.40

Shares of Simulations Plus, Inc. (NASDAQ:SLP) have received an average rating of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $51.40.

Several equities research analysts have recently commented on the stock. KeyCorp initiated 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. StockNews.com cut shares of Simulations Plus from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. BTIG Research cut their price target on Simulations Plus from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. William Blair reaffirmed an “outperform” rating on shares of Simulations Plus in a research note on Wednesday, November 6th. Finally, Stephens started coverage on Simulations Plus in a research note on Friday, November 15th. They issued an “overweight” rating and a $39.00 target price on the stock.

Insider Activity at Simulations Plus

In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $31.26, for a total value of $625,200.00. Following the transaction, the director now owns 3,481,592 shares of the company’s stock, valued at approximately $108,834,565.92. The trade was a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 60,750 shares of company stock worth $1,905,655 in the last quarter. Corporate insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Simulations Plus

Several institutional investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. boosted its position in Simulations Plus by 82.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 818 shares of the technology company’s stock worth $26,000 after acquiring an additional 370 shares during the last quarter. nVerses Capital LLC boosted its holdings in Simulations Plus by 1,100.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the technology company’s stock worth $38,000 after purchasing an additional 1,100 shares during the last quarter. EntryPoint Capital LLC bought a new position in Simulations Plus in the first quarter valued at $57,000. Quantbot Technologies LP acquired a new stake in Simulations Plus in the 3rd quarter valued at $59,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Simulations Plus during the 1st quarter worth about $70,000. 78.08% of the stock is owned by institutional investors.

Simulations Plus Trading Up 4.3 %

SLP opened at $31.32 on Monday. Simulations Plus has a 1-year low of $27.07 and a 1-year high of $51.22. The firm has a 50-day moving average price of $30.82 and a two-hundred day moving average price of $38.43. The stock has a market capitalization of $628.59 million, a PE ratio of 63.92 and a beta of 0.71.

Simulations Plus (NASDAQ:SLP) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of $18.70 million for the quarter, compared to the consensus estimate of $19.73 million. Simulations Plus had a return on equity of 6.16% and a net margin of 14.15%. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 EPS. On average, research analysts predict that Simulations Plus will post 1.12 EPS for the current year.

Simulations Plus Company Profile

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.