Simulations Plus (NASDAQ:SLP) Price Target Cut to $50.00 by Analysts at BTIG Research

Simulations Plus (NASDAQ:SLP - Get Free Report) had its target price lowered by equities research analysts at BTIG Research from $60.00 to $50.00 in a report released on Thursday, Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. BTIG Research's price objective would suggest a potential upside of 61.50% from the stock's previous close.

SLP has been the topic of several other research reports. JMP Securities assumed coverage on Simulations Plus in a research note on Tuesday, July 16th. They set a "market perform" rating on the stock. William Blair restated an "outperform" rating on shares of Simulations Plus in a report on Thursday, September 12th. Craig Hallum reaffirmed a "buy" rating and issued a $56.00 price target on shares of Simulations Plus in a research report on Wednesday, July 3rd. Finally, KeyCorp initiated coverage on shares of Simulations Plus in a report on Monday, July 29th. They set an "overweight" rating and a $47.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Simulations Plus currently has an average rating of "Moderate Buy" and an average price target of $54.50.

Simulations Plus Trading Down 8.9 %

Shares of NASDAQ SLP traded down $3.02 during trading hours on Thursday, reaching $30.96. The stock had a trading volume of 718,228 shares, compared to its average volume of 129,364. Simulations Plus has a 52-week low of $29.37 and a 52-week high of $51.22. The firm has a market cap of $619.51 million, a price-to-earnings ratio of 64.17 and a beta of 0.69. The business's fifty day moving average price is $33.31 and its two-hundred day moving average price is $40.83.

Insider Transactions at Simulations Plus

In related news, Director Walter S. Woltosz sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.18, for a total transaction of $703,600.00. Following the completion of the sale, the director now owns 3,501,592 shares of the company's stock, valued at $123,186,006.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 60,750 shares of company stock valued at $2,145,055 in the last 90 days. Insiders own 20.90% of the company's stock.

Hedge Funds Weigh In On Simulations Plus

Several hedge funds have recently modified their holdings of SLP. Tributary Capital Management LLC grew its position in Simulations Plus by 54.7% during the 3rd quarter. Tributary Capital Management LLC now owns 325,567 shares of the technology company's stock worth $10,425,000 after purchasing an additional 115,122 shares during the last quarter. Trust Point Inc. lifted its stake in shares of Simulations Plus by 27.5% during the third quarter. Trust Point Inc. now owns 11,994 shares of the technology company's stock worth $384,000 after buying an additional 2,589 shares during the period. nVerses Capital LLC grew its holdings in shares of Simulations Plus by 1,100.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the technology company's stock valued at $38,000 after buying an additional 1,100 shares during the last quarter. Kings Path Partners LLC increased its position in shares of Simulations Plus by 19.2% in the 3rd quarter. Kings Path Partners LLC now owns 22,560 shares of the technology company's stock valued at $722,000 after acquiring an additional 3,633 shares during the period. Finally, InTrack Investment Management Inc raised its stake in Simulations Plus by 5.9% in the 3rd quarter. InTrack Investment Management Inc now owns 33,543 shares of the technology company's stock worth $1,074,000 after acquiring an additional 1,878 shares during the last quarter. Institutional investors and hedge funds own 78.08% of the company's stock.

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.