Simulations Plus (NASDAQ:SLP) Releases Earnings Results, Beats Expectations By $0.07 EPS

Simulations Plus (NASDAQ:SLP) released its quarterly earnings data on Thursday. The technology company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07, FiscalAI reports. The company had revenue of $21.89 million during the quarter, compared to analyst estimates of $20.90 million. Simulations Plus had a negative net margin of 77.96% and a positive return on equity of 16.21%.

Simulations Plus Stock Up 0.4%

Shares of SLP stock traded up $0.07 during trading on Thursday, hitting $18.34. The company had a trading volume of 384,156 shares, compared to its average volume of 388,274. The stock’s 50-day moving average is $16.40 and its two-hundred day moving average is $15.48. The stock has a market capitalization of $370.47 million, a price-to-earnings ratio of -5.86 and a beta of 1.30. Simulations Plus has a 52 week low of $11.09 and a 52 week high of $21.01.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SLP. William Blair lowered shares of Simulations Plus from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 17th. Weiss Ratings raised shares of Simulations Plus from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, June 5th. Wall Street Zen lowered shares of Simulations Plus from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. TD Cowen decreased their price target on shares of Simulations Plus from $19.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, April 10th. Finally, Craig Hallum downgraded Simulations Plus from a “buy” rating to a “hold” rating and set a $18.50 price objective on the stock. in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.88.

Insider Buying and Selling

In other news, Director Walter S. Woltosz sold 4,177 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $18.44, for a total value of $77,023.88. Following the transaction, the director owned 3,202,131 shares of the company’s stock, valued at $59,047,295.64. This represents a 0.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 6,177 shares of company stock valued at $108,754. 19.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its position in Simulations Plus by 34.7% during the fourth quarter. Invesco Ltd. now owns 26,641 shares of the technology company’s stock valued at $486,000 after purchasing an additional 6,863 shares in the last quarter. Corient Private Wealth LLC purchased a new position in shares of Simulations Plus in the 4th quarter worth about $397,000. Susquehanna Portfolio Strategies LLC boosted its holdings in shares of Simulations Plus by 43.7% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 67,002 shares of the technology company’s stock worth $1,221,000 after purchasing an additional 20,389 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Simulations Plus during the 4th quarter valued at about $973,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Simulations Plus during the 4th quarter valued at about $683,000. 78.08% of the stock is currently owned by hedge funds and other institutional investors.

About Simulations Plus

Simulations Plus, Inc (NASDAQ: SLP) specializes in advanced modeling and simulation software tailored to the pharmaceutical, biotechnology and chemical industries. The company’s flagship products include ADMET Predictor, a quantitative structure-activity relationship (QSAR) tool for predicting absorption, distribution, metabolism, excretion and toxicity properties, and GastroPlus, a physiologically based pharmacokinetic (PBPK) modeling platform for simulating drug absorption and pharmacokinetics.