Schrödinger (NASDAQ:SDGR) Price Target Cut to $30.00 by Analysts at Craig Hallum

Schrödinger (NASDAQ:SDGR) had its price objective lowered by Craig Hallum from $35.00 to $30.00 in a research report released on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Piper Sandler reduced their price target on shares of Schrödinger from $60.00 to $50.00 and set an overweight rating on the stock in a research report on Thursday, February 29th. Citigroup reduced their price target on shares of Schrödinger from $47.00 to $39.00 and set a buy rating on the stock in a research report on Thursday, February 29th. The Goldman Sachs Group reduced their price target on shares of Schrödinger from $29.00 to $26.00 and set a neutral rating on the stock in a research report on Friday, March 1st. KeyCorp reduced their price target on shares of Schrödinger from $38.00 to $33.00 and set an overweight rating on the stock in a research report on Thursday, February 29th. Finally, TD Cowen initiated coverage on shares of Schrödinger in a research report on Friday, January 26th. They issued an outperform rating and a $42.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $42.80.

Schrödinger Stock Up 2.1 %

NASDAQ SDGR traded up $0.49 during trading hours on Thursday, hitting $23.68. The company’s stock had a trading volume of 1,016,971 shares, compared to its average volume of 798,222. The stock has a fifty day moving average of $26.09 and a 200 day moving average of $28.23. Schrödinger has a twelve month low of $20.76 and a twelve month high of $59.24. The firm has a market capitalization of $1.71 billion, a P/E ratio of -12.60 and a beta of 1.58.

Schrödinger (NASDAQ:SDGR) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.12. The business had revenue of $74.10 million for the quarter, compared to analyst estimates of $79.12 million. Schrödinger had a negative net margin of 75.94% and a negative return on equity of 29.25%. Schrödinger’s revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.39) earnings per share. On average, analysts predict that Schrödinger will post -2.73 earnings per share for the current year.

Insider Buying and Selling at Schrödinger

In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of Schrödinger stock in a transaction on Monday, February 12th. The shares were sold at an average price of $28.29, for a total value of $25,489.29. Following the sale, the chief operating officer now directly owns 36,487 shares in the company, valued at approximately $1,032,217.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Kenneth Patrick Lorton sold 901 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $28.29, for a total value of $25,489.29. Following the completion of the transaction, the chief operating officer now directly owns 36,487 shares of the company’s stock, valued at $1,032,217.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Lorne Abel sold 1,205 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $27.55, for a total transaction of $33,197.75. Following the transaction, the insider now owns 9,340 shares in the company, valued at $257,317. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,651 shares of company stock worth $102,395. Insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Schrödinger

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC raised its stake in Schrödinger by 23.4% in the third quarter. SG Americas Securities LLC now owns 4,728 shares of the company’s stock valued at $134,000 after buying an additional 896 shares during the period. Raymond James & Associates bought a new stake in Schrödinger in the 3rd quarter valued at $333,000. New York State Teachers Retirement System raised its position in shares of Schrödinger by 29.3% in the third quarter. New York State Teachers Retirement System now owns 46,300 shares of the company’s stock valued at $1,309,000 after purchasing an additional 10,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Schrödinger by 12.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,016 shares of the company’s stock worth $453,000 after buying an additional 1,791 shares during the last quarter. Finally, Strs Ohio boosted its holdings in shares of Schrödinger by 800.0% during the 3rd quarter. Strs Ohio now owns 9,000 shares of the company’s stock worth $254,000 after buying an additional 8,000 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

About Schrödinger

Schrödinger, Inc, together with its subsidiaries, develops physics-based computational platform that enables discovery of novel molecules for drug development and materials applications. The company operates in two segments, Software and Drug Discovery. The Software segment is focused on licensing its software to transform molecular discovery for life sciences and materials science industries.