Schrodinger (NASDAQ:SDGR – Free Report) had its price objective raised by TD Cowen from $31.00 to $36.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.
Several other equities analysts also recently weighed in on the company. BMO Capital Markets lifted their target price on Schrodinger from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, October 12th. Weiss Ratings raised Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 27th. Wall Street Zen upgraded Schrodinger from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. KeyCorp upped their price target on Schrodinger from $20.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, October 16th. Finally, UBS Group raised their price objective on Schrodinger from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 20th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.67.
Check Out Our Latest Stock Analysis on SDGR
Schrodinger Trading Up 0.9%
SDGR opened at $28.77 on Thursday. Schrodinger has a 1-year low of $10.94 and a 1-year high of $33.78. The company has a market capitalization of $2.12 billion, a PE ratio of -36.42 and a beta of 1.69. The firm’s 50 day simple moving average is $25.61 and its two-hundred day simple moving average is $17.01.
Schrodinger (NASDAQ:SDGR – Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.67) by $0.17. Schrodinger had a negative net margin of 22.02% and a negative return on equity of 17.66%. The business had revenue of $64.49 million for the quarter, compared to analysts’ expectations of $47.73 million. During the same quarter last year, the company posted ($0.45) EPS. The company’s revenue was up 18.7% compared to the same quarter last year. Equities analysts forecast that Schrodinger will post -1.50 earnings per share for the current fiscal year.
Insider Activity
In other news, insider Karen Akinsanya sold 31,599 shares of the firm’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $29.37, for a total transaction of $928,062.63. Following the sale, the insider directly owned 69,956 shares in the company, valued at $2,054,607.72. This trade represents a 31.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.10% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Schrodinger in the second quarter worth about $170,978,000. Rubric Capital Management LP grew its position in shares of Schrodinger by 43.8% during the first quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company’s stock worth $68,160,000 after purchasing an additional 1,828,502 shares in the last quarter. Amova Asset Management Americas Inc. raised its stake in Schrodinger by 13.2% during the 1st quarter. Amova Asset Management Americas Inc. now owns 3,190,837 shares of the company’s stock valued at $36,248,000 after purchasing an additional 371,167 shares during the period. Bank of New York Mellon Corp bought a new stake in Schrodinger during the 2nd quarter valued at approximately $4,986,000. Finally, Tejara Capital Ltd bought a new stake in Schrodinger during the 2nd quarter valued at approximately $4,553,000. Institutional investors own 79.05% of the company’s stock.
Schrodinger News Roundup
Here are the key news stories impacting Schrodinger this week:
- Positive Sentiment: Schrödinger reported a Q3 loss of $0.50 per share, narrower than the $0.67 loss analysts expected, and revenue of $64.5 million, well above the $47.7 million consensus and up 18.7% year over year. The company also cited 17% ACV growth and $24 million in drug discovery revenue, and raised its full-year ACV and drug discovery revenue outlook. Schrödinger Q3 results
- Positive Sentiment: TD Cowen raised its price target to $36 from $31 and reiterated a Buy rating, signaling confidence in further upside. TD Cowen price target update
- Negative Sentiment: Zacks Research downgraded SDGR from Strong Buy to Hold, tempering the more bullish analyst view. Zacks Research ratings
About Schrodinger
Schrödinger, Inc develops computational software and services designed to support pharmaceutical, biotechnology and materials research. Its platform uses physics-based modeling, machine learning and other computational methods to help scientists analyze molecular interactions, design compounds and prioritize candidates for experimental testing.
The company’s software offerings include tools for molecular modeling, quantum chemistry, molecular dynamics, virtual screening, property prediction and free-energy calculations.
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