BTIG Research Drops Coverage on Simulations Plus (NASDAQ:SLP)

Analysts at BTIG Research dropped coverage on shares of Simulations Plus (NASDAQ:SLP) in a research note issued on Wednesday, October 7th, Benzinga reports. The firm had previously set a “neutral” rating on the technology company’s stock.

Several other equities research analysts have also recently commented on SLP. Wall Street Zen cut Simulations Plus from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings upgraded Simulations Plus from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, July 10th. Craig Hallum cut Simulations Plus from a “buy” rating to a “hold” rating and set a $18.50 target price for the company. in a report on Thursday, June 18th. Finally, William Blair lowered shares of Simulations Plus from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 17th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $17.25.

Simulations Plus Stock Performance

NASDAQ SLP remained flat at $18.50 during trading on Wednesday. The company has a market capitalization of $374.16 million, a P/E ratio of 46.25 and a beta of 1.31. Simulations Plus has a one year low of $11.09 and a one year high of $21.01. The stock has a fifty day moving average of $18.45 and a two-hundred day moving average of $16.36.

Institutional Trading of Simulations Plus

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in Simulations Plus by 26.0% during the second quarter. GAMMA Investing LLC now owns 2,831 shares of the technology company’s stock worth $52,000 after buying an additional 585 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Simulations Plus by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 63,592 shares of the technology company’s stock worth $752,000 after buying an additional 844 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Simulations Plus by 242.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,384 shares of the technology company’s stock worth $26,000 after buying an additional 980 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Simulations Plus in the 2nd quarter valued at $26,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Simulations Plus by 6.1% in the second quarter. Hsbc Holdings PLC now owns 28,116 shares of the technology company’s stock worth $520,000 after acquiring an additional 1,622 shares in the last quarter. 78.08% of the stock is owned by hedge funds and other institutional investors.

About Simulations Plus

Simulations Plus, Inc develops software and provides consulting services for pharmaceutical research and development. Its technology helps scientists model how drugs are absorbed, distributed, metabolized and excreted in the body, supporting decisions throughout the drug-development process.

The company’s product portfolio includes GastroPlus, a physiologically based pharmacokinetic modeling platform; ADMET Predictor, which supports the prediction of drug absorption, distribution, metabolism, excretion and toxicity properties; and DILIsym, a platform designed to evaluate the risk of drug-induced liver injury.