Brokerages Set Simulations Plus, Inc. (NASDAQ:SLP) Price Target at $49.40

Shares of Simulations Plus, Inc. (NASDAQ:SLP) have earned a consensus recommendation of “Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $49.40.

Several brokerages recently issued reports on SLP. KeyCorp lifted their target price on Simulations Plus from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. William Blair reaffirmed an “outperform” rating on shares of Simulations Plus in a report on Wednesday, January 8th.

Simulations Plus Stock Performance

SLP stock opened at $24.29 on Friday. The business has a 50-day simple moving average of $30.80 and a two-hundred day simple moving average of $30.55. The company has a market capitalization of $488.03 million, a P/E ratio of 60.73 and a beta of 0.89. Simulations Plus has a 52-week low of $23.63 and a 52-week high of $51.22.

Insider Buying and Selling at Simulations Plus

In other news, Director Walter S. Woltosz sold 20,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $33.91, for a total transaction of $678,200.00. Following the completion of the transaction, the director now directly owns 3,402,584 shares of the company’s stock, valued at $115,381,623.44. This represents a 0.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 19.40% of the company’s stock.

Hedge Funds Weigh In On Simulations Plus

Institutional investors have recently bought and sold shares of the company. Barclays PLC lifted its position in shares of Simulations Plus by 390.6% during the 3rd quarter. Barclays PLC now owns 28,473 shares of the technology company’s stock valued at $911,000 after buying an additional 22,669 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Simulations Plus during the fourth quarter valued at about $719,000. Geode Capital Management LLC boosted its position in Simulations Plus by 4.4% during the third quarter. Geode Capital Management LLC now owns 448,618 shares of the technology company’s stock worth $14,367,000 after purchasing an additional 18,924 shares during the period. State Street Corp increased its stake in shares of Simulations Plus by 4.7% in the third quarter. State Street Corp now owns 640,303 shares of the technology company’s stock worth $20,503,000 after purchasing an additional 28,953 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Simulations Plus by 106.0% in the third quarter. JPMorgan Chase & Co. now owns 47,365 shares of the technology company’s stock valued at $1,517,000 after purchasing an additional 24,371 shares during the period. Hedge funds and other institutional investors own 78.08% of the company’s stock.

About Simulations Plus

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.