Craig-Hallum lowered the firm’s price target on Simulations Plus (SLP) to $31 from $36 and keeps a Buy rating on the shares. The firm notes the company reported final Q3 results with revenues slightly ahead of the pre-release range and revenue guidance for FY25 reaffirmed. Craig-Hallum believes that the headwinds the company is facing will be relatively short-term in nature and given the recent regulatory guidance which calls for more use of AI/simulation in the discovery and development of pharmaceuticals, the firm thinks Simulations Plus will return to double-digit revenue growth and adjusted EBITDA margins of 30%-plus.
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