Simulations Plus, Inc. (NASDAQ:SLP) Stock Rated “Reduce” by Wall Street Brokerages

Shares of Simulations Plus, Inc. (NASDAQ:SLP) have received an average rating of “Reduce” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $17.25.

SLP has been the subject of several recent analyst reports. BTIG Research reiterated a “neutral” rating on shares of Simulations Plus in a research note on Wednesday, October 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Simulations Plus in a report on Tuesday, October 6th.

Hedge Funds Weigh In On Simulations Plus

Hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Simulations Plus during the 2nd quarter valued at $27,503,000. First Light Asset Management LLC increased its holdings in Simulations Plus by 33.7% during the first quarter. First Light Asset Management LLC now owns 2,632,823 shares of the technology company’s stock worth $31,120,000 after buying an additional 663,906 shares during the last quarter. Glazer Capital LLC bought a new stake in Simulations Plus in the second quarter worth about $3,691,000. Renaissance Technologies LLC raised its position in Simulations Plus by 807.5% in the first quarter. Renaissance Technologies LLC now owns 181,500 shares of the technology company’s stock worth $2,145,000 after acquiring an additional 161,500 shares during the period. Finally, Meros Investment Management LP bought a new stake in Simulations Plus in the second quarter worth about $2,384,493. Institutional investors own 78.08% of the company’s stock.

Simulations Plus Price Performance

SLP stock opened at $18.50 on Tuesday. Simulations Plus has a twelve month low of $11.09 and a twelve month high of $21.01. The stock’s 50 day moving average is $18.44 and its 200-day moving average is $16.37. The firm has a market capitalization of $374.16 million, a PE ratio of 46.25 and a beta of 1.31.

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.