Zacks Investment Research downgraded shares of Simulations Plus Inc. (NASDAQ:SLP) from a hold rating to a sell rating in a research note published on Wednesday morning.

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. “

Shares of Simulations Plus (NASDAQ:SLP) opened at 8.79 on Wednesday. Simulations Plus has a 1-year low of $6.74 and a 1-year high of $11.89. The firm has a 50-day moving average price of $8.38 and a 200-day moving average price of $8.27. The company has a market cap of $149.88 million, a P/E ratio of 32.56 and a beta of -0.16.

Simulations Plus (NASDAQ:SLP) last posted its earnings results on Thursday, July 14th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by $0.01. The company had revenue of $6.01 million for the quarter. Simulations Plus had a return on equity of 22.89% and a net margin of 23.58%. On average, equities analysts expect that Simulations Plus will post $0.28 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Menta Capital LLC bought a new stake in Simulations Plus during the second quarter valued at approximately $105,000. Alambic Investment Management L.P. bought a new stake in Simulations Plus during the second quarter valued at approximately $146,000. Goldman Sachs Group Inc. bought a new stake in Simulations Plus during the first quarter valued at approximately $196,000. Redmond Asset Management LLC bought a new stake in Simulations Plus during the second quarter valued at approximately $210,000. Finally, BlackRock Fund Advisors raised its stake in Simulations Plus by 16.8% in the second quarter. BlackRock Fund Advisors now owns 35,736 shares of the company’s stock valued at $270,000 after buying an additional 5,145 shares during the period. 25.53% of the stock is currently owned by hedge funds and other institutional investors.

About Simulations Plus

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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