Oppenheimer analyst Francois Brisebois has reiterated their bullish stance on SLP stock, giving a Buy rating yesterday.
Francois Brisebois has given his Buy rating due to a combination of factors. Primarily, Brisebois expects Simulations Plus to meet its FY23 guidance. This expectation is based on the company’s robust position in the drug development processing market, consistent growth, and a strong revenue mix from its software sector. Moreover, Brisebois believes that Simulations Plus’s recent acquisition of Immunetrics will boost its performance and help it hit its FY23 guidance of 10%-15% year-over-year top-line growth.
Brisebois also highlighted that the Immunetrics acquisition will enable Simulations Plus to expand into new areas such as oncology, immunology, and autoimmune diseases. This expansion, coupled with the projected revenues from Immunetrics, enhances Brisebois’s confidence in Simulations Plus’s ability to meet its growth targets. Despite the challenging funding environment, Brisebois reiterated his Outperform rating and $67 price target, based on a sum-of-the-parts analysis, including software, services, and cash and technology.
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Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SLP in relation to earlier this year.
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Simulations Plus (SLP) Company Description:
Simulations Plus, Inc. engages in licensing and conducting drug research by pharmaceutical and biotechnology companies. It offers pharmaceutical, and chemical, cosmetics and food industries. The company was founded by Walter S. Woltosz and Virginia E. Woltosz on July 17, 1996 and is headquartered Lancaster, CA.
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