Simulations Plus (NASDAQ:SLP) Stock Price Up 7.8% - Here's Why

Simulations Plus, Inc. (NASDAQ:SLP - Get Free Report)'s stock price was up 7.8% on Friday . The stock traded as high as $32.59 and last traded at $32.38. Approximately 191,068 shares were traded during trading, an increase of 40% from the average daily volume of 136,422 shares. The stock had previously closed at $30.04.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SLP shares. StockNews.com cut shares of Simulations Plus from a "hold" rating to a "sell" rating in a report on Monday, November 4th. BTIG Research decreased their target price on Simulations Plus from $60.00 to $50.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. Stephens started coverage on shares of Simulations Plus in a research note on Friday, November 15th. They issued an "overweight" rating and a $39.00 target price on the stock. William Blair reissued an "outperform" rating on shares of Simulations Plus in a research note on Wednesday, November 6th. 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 for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.40.

Simulations Plus Stock Up 4.6 %

The firm has a market cap of $630.80 million, a price-to-earnings ratio of 65.35 and a beta of 0.71. The business's 50-day simple moving average is $30.82 and its two-hundred day simple moving average is $38.43.

Simulations Plus (NASDAQ:SLP - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating 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 company's quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 EPS. On average, analysts expect that Simulations Plus, Inc. will post 1.12 earnings per share for the current year.

Insider Transactions at Simulations Plus

In other news, Director Walter S. Woltosz sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $31.26, for a total transaction of $625,200.00. Following the completion of the transaction, the director now directly owns 3,481,592 shares of the company's stock, valued at $108,834,565.92. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 60,750 shares of company stock valued at $1,905,655. 20.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Simulations Plus

Several institutional investors have recently added to or reduced their stakes in SLP. First Horizon Advisors Inc. grew its holdings in shares of 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 purchasing an additional 370 shares during the period. nVerses Capital LLC increased its holdings in Simulations Plus by 1,100.0% in the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the technology company's stock valued at $38,000 after purchasing an additional 1,100 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Simulations Plus in the first quarter valued at about $57,000. Quantbot Technologies LP acquired a new position in Simulations Plus during the 3rd quarter worth approximately $59,000. Finally, US Bancorp DE grew its position in Simulations Plus by 37.0% in the third quarter. US Bancorp DE now owns 4,974 shares of the technology company's stock valued at $159,000 after acquiring an additional 1,343 shares in the last quarter. 78.08% of the stock is currently owned by institutional investors and hedge funds.

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.

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