US stock futures flounder amid tech weakness, Fed caution
Walter S. Woltosz, a director and significant shareholder of Simulations Plus , Inc. (NASDAQ:SLP), reported selling shares of the company in transactions totaling $557,662. The sales, executed on January 2, were made under a pre-arranged trading plan. The company, currently valued at $578.54 million, has maintained a GOOD financial health score according to InvestingPro analysis.
The transactions involved selling 20,000 shares of common stock at prices ranging from $27.88 to $28.50 per share. Following these sales, Woltosz holds 3,422,584 shares directly. The sales were part of a Rule 10b5-1 plan, which allows insiders to set up a predetermined schedule for selling stocks to avoid potential conflicts of interest. The stock is currently trading near its 52-week low of $27.07, despite showing strong revenue growth of 17.52% and maintaining a healthy current ratio of 3.26. For deeper insights into SLP's valuation and 12+ additional key metrics, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Simulations Plus, a renowned simulation software and services provider for the pharmaceutical industry, has been the subject of several recent developments. Oppenheimer analysts maintained an Outperform rating for the company's shares, projecting a steady outlook for the company's fiscal first quarter of 2025 results. The company's robust financial performance in fiscal year 2024 saw total revenue rise by 18% to $70 million, and a fourth-quarter revenue increase of 19% to $18.7 million.
Simulations Plus has also secured a grant from the U.S. Food and Drug Administration for a collaboration with the University of Strathclyde and InnoGI Technologies. This project aims to advance the understanding and prediction of amorphous solid dispersion (ASD) formulations. The company's strategic acquisitions of Pro-ficiency and Immunetrics have expanded its total addressable market and enhanced its software offerings.
In response to these developments, BTIG adjusted the financial outlook for Simulations Plus, reducing the price target to $50.00 from the previous $60.00 while maintaining a Buy rating on the stock. Despite falling short of the $19.7 million expected by BTIG and the consensus estimate, the company issued financial guidance for fiscal year 2025, projecting revenue in line with initial estimates and an adjusted earnings per share (EPS) forecast between $1.07 and $1.20.
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