Simulations Plus (NASDAQ:SLP) Posts Quarterly Earnings Results, Meets Expectations

Simulations Plus (NASDAQ:SLP) posted its quarterly earnings data on Monday. The technology company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10, FiscalAI reports. Simulations Plus had a negative net margin of 78.63% and a positive return on equity of 11.62%. The firm had revenue of $17.46 million during the quarter, compared to analysts’ expectations of $17.41 million.

Simulations Plus Trading Up 0.6%

NASDAQ:SLP traded up $0.11 during mid-day trading on Monday, hitting $17.11. 543,476 shares of the company’s stock were exchanged, compared to its average volume of 452,997. Simulations Plus has a fifty-two week low of $12.39 and a fifty-two week high of $37.67. The company has a 50 day simple moving average of $16.49 and a 200-day simple moving average of $17.73. The firm has a market capitalization of $344.37 million, a P/E ratio of -5.43 and a beta of 0.98.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Simulations Plus in the 2nd quarter valued at about $25,000. Quarry LP bought a new stake in Simulations Plus during the 3rd quarter valued at $28,000. US Bancorp DE grew its holdings in Simulations Plus by 32.5% during the 3rd quarter. US Bancorp DE now owns 6,167 shares of the technology company’s stock valued at $93,000 after buying an additional 1,513 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Simulations Plus by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,493 shares of the technology company’s stock worth $233,000 after acquiring an additional 390 shares during the period. Finally, PharVision Advisers LLC purchased a new stake in shares of Simulations Plus in the third quarter worth $155,000. Institutional investors own 78.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SLP. Zacks Research upgraded Simulations Plus from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. TD Cowen started coverage on Simulations Plus in a research note on Tuesday, September 30th. They set a “hold” rating and a $16.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Simulations Plus in a report on Wednesday, October 8th. Citigroup reissued a “market perform” rating on shares of Simulations Plus in a research report on Tuesday, October 28th. Finally, Cowen initiated coverage on shares of Simulations Plus in a research report on Tuesday, September 30th. They set a “hold” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Simulations Plus has an average rating of “Hold” and a consensus target price of $24.40.

Simulations Plus Company Profile

Simulations Plus, Inc develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services. It offers GastroPlus, which simulates the absorption and drug interaction of compounds administered to humans and animals; and DDDPlus and MembranePlus simulation products.