Craig Hallum Lowers Simulations Plus (NASDAQ:SLP) Price Target to $36.00

Simulations Plus (NASDAQ:SLP) had its price objective reduced by Craig Hallum from $45.00 to $36.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Craig Hallum’s price target points to a potential upside of 88.78% from the company’s previous close.

SLP has been the topic of several other reports. William Blair reaffirmed an “outperform” rating on shares of Simulations Plus in a research note on Tuesday, June 3rd. KeyCorp raised their target price on Simulations Plus from $32.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, April 16th. Finally, Wall Street Zen raised shares of Simulations Plus from a “sell” rating to a “hold” rating in a report on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $41.25.

Simulations Plus Trading Down 4.9%

NASDAQ:SLP opened at $19.07 on Friday. The firm has a market cap of $383.52 million, a price-to-earnings ratio of 47.68 and a beta of 0.97. The company’s 50-day moving average is $30.64 and its two-hundred day moving average is $30.14. Simulations Plus has a 12-month low of $18.66 and a 12-month high of $49.71.

Simulations Plus (NASDAQ:SLP) last issued 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 return on equity of 6.84% and a net margin of 10.97%. The firm had revenue of $22.43 million for the quarter, compared to analyst estimates of $21.93 million. During the same period last year, the company earned $0.20 EPS. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. On average, equities research analysts forecast that Simulations Plus will post 1.09 earnings per share for the current fiscal year.

Insider Activity at Simulations Plus

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

Institutional Investors Weigh In On Simulations Plus

Several large investors have recently made changes to their positions in SLP. Jones Financial Companies Lllp boosted its holdings in shares of Simulations Plus by 53.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,223 shares of the technology company’s stock valued at $34,000 after acquiring an additional 427 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Simulations Plus by 33.8% during the first quarter. Fifth Third Bancorp now owns 1,485 shares of the technology company’s stock worth $36,000 after purchasing an additional 375 shares during the period. Johnson Financial Group Inc. acquired a new stake in Simulations Plus during the 4th quarter worth about $39,000. Tower Research Capital LLC TRC raised its holdings in shares of Simulations Plus by 42.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,575 shares of the technology company’s stock valued at $72,000 after acquiring an additional 764 shares during the period. Finally, AlphaQuest LLC lifted its holdings in shares of Simulations Plus by 502.9% in the fourth quarter. AlphaQuest LLC now owns 2,689 shares of the technology company’s stock valued at $75,000 after purchasing an additional 2,243 shares in the last quarter. 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.