Simulations Plus (NASDAQ:SLP) Posts Earnings Results

Simulations Plus (NASDAQ:SLP) posted its earnings results on Thursday. The technology company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07, FiscalAI reports. The firm had revenue of $21.89 million for the quarter, compared to the consensus estimate 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 Price Performance

SLP opened at $18.34 on Friday. The business’s 50-day moving average is $16.47 and its two-hundred day moving average is $15.47. Simulations Plus has a 1 year low of $11.09 and a 1 year high of $21.01. The firm has a market capitalization of $370.47 million, a PE ratio of -5.86 and a beta of 1.30.

Insider Activity

In related news, Director Walter S. Woltosz sold 4,177 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $18.44, for a total transaction of $77,023.88. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, 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

Several hedge funds have recently added to or reduced their stakes in SLP. First Light Asset Management LLC raised its stake in Simulations Plus by 156.4% in the fourth quarter. First Light Asset Management LLC now owns 1,968,917 shares of the technology company’s stock valued at $35,893,000 after buying an additional 1,201,157 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Simulations Plus by 25.3% during the second quarter. Ameriprise Financial Inc. now owns 875,447 shares of the technology company’s stock worth $15,277,000 after acquiring an additional 176,747 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Simulations Plus by 127.5% during the fourth quarter. Marshall Wace LLP now owns 569,783 shares of the technology company’s stock worth $10,387,000 after acquiring an additional 319,301 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Simulations Plus by 278.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 427,865 shares of the technology company’s stock valued at $7,800,000 after acquiring an additional 314,844 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Simulations Plus by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 399,811 shares of the technology company’s stock valued at $7,290,000 after acquiring an additional 5,720 shares in the last quarter. 78.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.