Schrödinger (NASDAQ:SDGR) Price Target Cut to $37.00

Schrödinger (NASDAQ:SDGR) had its price objective lowered by equities researchers at Citigroup from $39.00 to $37.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 56.25% from the stock’s current price.

Several other brokerages also recently weighed in on SDGR. KeyCorp dropped their target price on shares of Schrödinger from $38.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Bank of America cut their target price on Schrödinger from $38.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. TD Cowen assumed coverage on shares of Schrödinger in a research report on Friday, January 26th. They set an “outperform” rating and a $42.00 price objective on the stock. Piper Sandler dropped their target price on shares of Schrödinger from $60.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Finally, Craig Hallum decreased their price target on shares of Schrödinger from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.80.

Schrödinger Trading Up 2.1 %

NASDAQ SDGR traded up $0.49 on Thursday, hitting $23.68. 1,016,971 shares of the company traded hands, compared to its average volume of 798,222. The business’s 50 day moving average price is $26.09 and its 200-day moving average price is $28.23. Schrödinger has a 52-week low of $20.76 and a 52-week high of $59.24. The company has a market capitalization of $1.71 billion, a price-to-earnings 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. Schrödinger had a negative return on equity of 29.25% and a negative net margin of 75.94%. The company had revenue of $74.10 million during the quarter, compared to the consensus estimate of $79.12 million. During the same period in the previous year, the company posted ($0.39) EPS. The firm’s revenue was up 30.5% on a year-over-year basis. As a group, sell-side analysts predict that Schrödinger will post -2.73 earnings per share for the current year.

Insider Activity

In other news, insider Robert Lorne Abel sold 1,205 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $27.55, for a total value of $33,197.75. Following the sale, the insider now owns 9,340 shares of the company’s stock, valued at $257,317. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Robert Lorne Abel sold 1,205 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $257,317. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Kenneth Patrick Lorton sold 901 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $28.29, for a total value of $25,489.29. Following the completion of the sale, the chief operating officer now owns 36,487 shares in the company, valued at $1,032,217.23. The disclosure for this sale can be found here. Insiders sold 3,651 shares of company stock valued at $102,395 in the last ninety days. Insiders own 7.60% of the company’s stock.

Institutional Trading of Schrödinger

A number of large investors have recently made changes to their positions in SDGR. Spire Wealth Management grew its stake in Schrödinger by 66.7% in the third quarter. Spire Wealth Management now owns 1,000 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Schrödinger by 3,480.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,790 shares of the company’s stock valued at $64,000 after acquiring an additional 1,740 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Schrödinger in the fourth quarter worth about $67,000. PNC Financial Services Group Inc. grew its holdings in Schrödinger by 186.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock worth $76,000 after acquiring an additional 1,385 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Schrödinger by 23.4% during the 3rd quarter. SG Americas Securities LLC now owns 4,728 shares of the company’s stock valued at $134,000 after purchasing an additional 896 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.

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.