Zacks Investment Research upgraded shares of Simulations Plus (NASDAQ:SLP) from a hold rating to a buy rating in a report published on Thursday morning. The brokerage currently has $18.00 price objective on the technology company’s stock.
According to Zacks, “Simulations Plus, Inc., is a premier developer of groundbreaking drug discovery and development simulation software, which is licensed to and used in the conduct of drug research by major pharmaceutical and biotechnology companies worldwide. They have two other businesses, Words+, Inc. and FutureLab, which are based on its proprietary software technologies. “
Separately, BidaskClub raised shares of Simulations Plus from a sell rating to a hold rating in a research note on Saturday, February 3rd.
Simulations Plus (NASDAQ:SLP) last posted its quarterly earnings results on Tuesday, January 9th. The technology company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. Simulations Plus had a net margin of 23.78% and a return on equity of 24.56%. The business had revenue of $7.07 million for the quarter, compared to analysts’ expectations of $6.57 million. research analysts predict that Simulations Plus will post 0.4 EPS for the current year.
In other news, Chairman Walter S. Woltosz sold 18,500 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $16.13, for a total transaction of $298,405.00. Following the transaction, the chairman now directly owns 5,482,916 shares of the company’s stock, valued at approximately $88,439,435.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 55,500 shares of company stock worth $899,655. Corporate insiders own 33.45% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can acquired a new stake in Simulations Plus in the 4th quarter valued at about $104,000. The Manufacturers Life Insurance Company grew its stake in Simulations Plus by 13.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,923 shares of the technology company’s stock valued at $110,000 after acquiring an additional 1,085 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in Simulations Plus in the 2nd quarter valued at about $143,000. Strs Ohio grew its stake in Simulations Plus by 196.9% in the 4th quarter. Strs Ohio now owns 9,500 shares of the technology company’s stock valued at $152,000 after acquiring an additional 6,300 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in Simulations Plus in the 4th quarter valued at about $175,000. 33.93% of the stock is currently owned by hedge funds and other institutional investors.
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Simulations Plus Company Profile
Simulations Plus, Inc (Simulations Plus) develops and produces software for use in pharmaceutical research and for education, and provides consulting and contract research services to the pharmaceutical industry. The Company offers five software products for pharmaceutical research. ADMET (Absorption, Distribution, Metabolism, Excretion and Toxicity) Predictor is a computer program that takes molecular structures as inputs and predicts over 140 different properties for them at the rate of about 200,000 compounds per hour.
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