Schrödinger, Inc. (NASDAQ:SDGR) Receives $42.80 Consensus Price Target from Analysts

Schrödinger, Inc. (NASDAQ:SDGR) has earned an average rating of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $42.80.

Several equities research analysts have recently issued reports on SDGR shares. Craig Hallum reduced their price objective on shares of Schrödinger from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. TD Cowen assumed coverage on Schrödinger in a report on Friday, January 26th. They issued an “outperform” rating and a $42.00 target price on the stock. The Goldman Sachs Group lowered their target price on Schrödinger from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, March 1st. Citigroup reduced their price target on shares of Schrödinger from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Bank of America dropped their price objective on shares of Schrödinger from $38.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th.

Insider Transactions at Schrödinger

In other news, COO Kenneth Patrick Lorton sold 901 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $28.29, for a total transaction of $25,489.29. Following the transaction, the chief operating officer now owns 36,487 shares of the company’s stock, valued at approximately $1,032,217.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 36,487 shares in the company, valued at $1,032,217.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 approximately $257,317. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,651 shares of company stock worth $102,395. 7.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Schrödinger

Several hedge funds have recently made changes to their positions in SDGR. Spire Wealth Management increased its holdings in shares of Schrödinger by 66.7% in the third quarter. Spire Wealth Management now owns 1,000 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Schrödinger by 3,480.0% in the 4th 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 during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Schrödinger in the fourth quarter worth $67,000. PNC Financial Services Group Inc. raised its holdings in shares of Schrödinger by 186.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock worth $76,000 after purchasing an additional 1,385 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Schrödinger by 23.4% during the third 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 institutional investors and hedge funds.

Schrödinger Price Performance

Shares of NASDAQ:SDGR opened at $23.22 on Monday. The company has a market capitalization of $1.68 billion, a P/E ratio of -12.35 and a beta of 1.58. Schrödinger has a 1-year low of $20.76 and a 1-year high of $59.24. The firm’s 50 day simple moving average is $25.59 and its two-hundred day simple moving average is $28.27.

Schrödinger (NASDAQ:SDGR) last released its earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. Schrödinger had a negative net margin of 75.94% and a negative return on equity of 29.25%. The company had revenue of $74.10 million for the quarter, compared to analysts’ expectations of $79.12 million. During the same quarter in the previous year, the company earned ($0.39) EPS. Schrödinger’s revenue for the quarter was up 30.5% on a year-over-year basis. On average, sell-side analysts anticipate that Schrödinger will post -2.7 earnings per share for the current fiscal year.

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.