Schrodinger (NASDAQ:SDGR) Reaches New 12-Month High – What’s Next?

Schrodinger, Inc. (NASDAQ:SDGR) reached a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $33.78 and last traded at $32.9420, with a volume of 309,283 shares. The stock had previously closed at $33.39.

Analysts Set New Price Targets

Several research firms have weighed in on SDGR. TD Cowen lifted their price objective on shares of Schrodinger from $31.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. UBS Group upped their target price on Schrodinger from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 20th. Weiss Ratings raised Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 27th. KeyCorp raised their price target on Schrodinger from $20.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, October 16th. Finally, BMO Capital Markets lifted their price target on Schrodinger from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 12th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Schrodinger has a consensus rating of “Hold” and a consensus target price of $26.67.

Schrodinger Trading Down 2.7%

The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of -39.90 and a beta of 1.69. The company has a fifty day moving average of $26.55 and a two-hundred day moving average of $17.32.

Schrodinger (NASDAQ:SDGR) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.17. Schrodinger had a negative return on equity of 18.12% and a negative net margin of 22.02%. The company had revenue of $64.49 million for the quarter, compared to the consensus estimate of $47.73 million. During the same quarter last year, the company posted ($0.45) earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, sell-side analysts predict that Schrodinger, Inc. will post -1.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Yvonne Tran sold 32,000 shares of Schrodinger stock in a transaction on Monday, November 9th. The shares were sold at an average price of $32.85, for a total value of $1,051,200.00. Following the transaction, the executive vice president owned 52,683 shares in the company, valued at $1,730,636.55. This trade represents a 37.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karen Akinsanya sold 31,599 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $29.37, for a total transaction of $928,062.63. Following the transaction, the insider directly owned 69,956 shares of the company’s stock, valued at approximately $2,054,607.72. This represents a 31.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On Schrodinger

A number of institutional investors have recently made changes to their positions in the business. Ieq Capital LLC grew its holdings in Schrodinger by 29.6% in the 3rd quarter. Ieq Capital LLC now owns 92,553 shares of the company’s stock valued at $2,874,000 after buying an additional 21,156 shares during the last quarter. Focus Advisor Solutions LLC bought a new stake in shares of Schrodinger in the third quarter valued at approximately $347,000. Stelac Advisory Services LLC bought a new stake in shares of Schrodinger in the third quarter valued at approximately $102,000. Public Sector Pension Investment Board boosted its position in shares of Schrodinger by 79.0% in the third quarter. Public Sector Pension Investment Board now owns 350,738 shares of the company’s stock valued at $10,890,000 after acquiring an additional 154,824 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in shares of Schrodinger in the third quarter valued at approximately $5,271,000. 79.05% of the stock is currently owned by institutional investors.

About Schrodinger

Schrödinger, Inc. develops computational software used to support drug discovery and materials research. Its platform applies physics-based modeling, computational chemistry and machine learning to help researchers analyze molecular properties and identify promising candidates. The company’s tools are used by pharmaceutical and biotechnology companies, academic institutions and other research organizations. Alongside software sales and subscriptions, Schrödinger works with partners on drug discovery programs and advances a portfolio of its own therapeutic candidates.