Schrodinger, Inc. (NASDAQ:SDGR) Stock Has Average Price Target of $23.50

Shares of Schrodinger, Inc. (NASDAQ:SDGR) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $25.50.

A number of research firms have commented on SDGR. BMO Capital Markets increased their price target on Schrodinger from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday. TD Cowen upped their price objective on shares of Schrodinger from $20.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday. KeyCorp increased their price objective on shares of Schrodinger from $20.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group assumed coverage on shares of Schrodinger in a research note on Friday, August 14th. They issued a “neutral” rating and a $19.00 target price for the company. Finally, Weiss Ratings upgraded shares of Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th.

Insiders Place Their Bets

In other Schrodinger news, insider Karen Akinsanya sold 31,599 shares of Schrodinger stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $29.37, for a total value of $928,062.63. Following the sale, the insider owned 69,956 shares in the company, valued at $2,054,607.72. The trade was a 31.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.10% of the stock is owned by insiders.

Institutional Trading of Schrodinger

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Schrodinger in the second quarter valued at $170,978,000. Rubric Capital Management LP boosted its holdings in shares of Schrodinger by 43.8% in the first quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $68,160,000 after acquiring an additional 1,828,502 shares during the period. Amova Asset Management Americas Inc. grew its position in shares of Schrodinger by 13.2% during the first quarter. Amova Asset Management Americas Inc. now owns 3,190,837 shares of the company’s stock worth $36,248,000 after acquiring an additional 371,167 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Schrodinger in the 2nd quarter valued at $4,986,000. Finally, Tejara Capital Ltd purchased a new stake in Schrodinger in the 2nd quarter valued at $4,553,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Schrodinger Trading Down 11.3%

Schrodinger stock opened at $22.60 on Wednesday. Schrodinger has a 12-month low of $10.94 and a 12-month high of $33.78. The firm has a 50-day moving average price of $23.57 and a 200-day moving average price of $17.44. The firm has a market capitalization of $1.67 billion, a PE ratio of -30.54 and a beta of 1.62.

Schrodinger (NASDAQ:SDGR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.41) by $0.49. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%. The company had revenue of $58.89 million for the quarter, compared to the consensus estimate of $47.19 million. During the same quarter in the prior year, the company posted ($0.65) EPS. Schrodinger’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts predict that Schrodinger will post -1.50 earnings per share for the current fiscal year.

Schrodinger Company Profile

Schrödinger, Inc is a technology company that develops computational software for pharmaceutical and materials research. Its platform uses physics-based modeling, machine learning and other computational methods to help scientists design and optimize molecules, evaluate potential drug candidates and investigate material properties.

The company’s software offerings include molecular modeling, simulation, predictive modeling and collaborative research tools, such as Maestro, Desmond, Jaguar, FEP+ and LiveDesign.