Simulations Plus (SLP) Cut to Sell at Zacks Investment Research
Simulations Plus (NASDAQ:SLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
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 upgraded Simulations Plus from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th.
Shares of Simulations Plus (SLP) opened at $16.00 on Thursday. The company has a market capitalization of $274.83, a P/E ratio of 46.76 and a beta of -0.76. Simulations Plus has a 12-month low of $8.81 and a 12-month high of $17.45.
Simulations Plus (NASDAQ:SLP) last posted its quarterly earnings data on Tuesday, November 14th. The technology company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. The business had revenue of $6.30 million during the quarter, compared to analysts’ expectations of $5.01 million. Simulations Plus had a return on equity of 23.95% and a net margin of 23.94%. analysts forecast that Simulations Plus will post 0.39 EPS for the current fiscal year.
In other news, insider Walter S. Woltosz sold 18,500 shares of the business’s stock in a transaction that occurred on Saturday, October 28th. The stock was sold at an average price of $16.37, for a total value of $302,845.00. Following the completion of the sale, the insider now directly owns 5,629,416 shares in the company, valued at $92,153,539.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 55,500 shares of company stock valued at $880,600 over the last 90 days. Company insiders own 36.93% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in shares of Simulations Plus by 13.8% during the second quarter. The Manufacturers Life Insurance Company now owns 8,923 shares of the technology company’s stock worth $110,000 after purchasing an additional 1,085 shares in the last quarter. Rhumbline Advisers purchased a new stake in shares of Simulations Plus during the second quarter worth approximately $126,000. OxFORD Asset Management LLP purchased a new stake in shares of Simulations Plus during the second quarter worth approximately $126,000. New York State Common Retirement Fund purchased a new stake in shares of Simulations Plus during the second quarter worth approximately $143,000. Finally, Blair William & Co. IL purchased a new stake in shares of Simulations Plus during the second quarter worth approximately $164,000. Hedge funds and other institutional investors own 33.56% of the company’s stock.
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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