Schrödinger, Inc. (NASDAQ:SDGR) Receives $32.60 Average Price Target from Brokerages

Shares of Schrödinger, Inc. (NASDAQ:SDGR) have been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $32.60.

Several brokerages have recently issued reports on SDGR. KeyCorp lowered their price objective on shares of Schrödinger from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. BMO Capital Markets lowered their price objective on shares of Schrödinger from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Morgan Stanley lowered their price objective on shares of Schrödinger from $43.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 21st.

Insider Activity at Schrödinger

In related news, insider Margaret Dugan sold 1,531 shares of Schrödinger stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $17.78, for a total transaction of $27,221.18. Following the transaction, the insider now owns 13,469 shares in the company, valued at approximately $239,478.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Schrödinger

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rubric Capital Management LP lifted its holdings in Schrödinger by 213.5% in the 2nd quarter. Rubric Capital Management LP now owns 3,130,000 shares of the company’s stock worth $60,534,000 after buying an additional 2,131,724 shares in the last quarter. Millennium Management LLC lifted its holdings in Schrödinger by 2,868.8% in the 2nd quarter. Millennium Management LLC now owns 487,831 shares of the company’s stock worth $9,435,000 after buying an additional 471,399 shares in the last quarter. Stephens Investment Management Group LLC lifted its holdings in Schrödinger by 39.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock worth $28,565,000 after buying an additional 436,789 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Schrödinger by 53.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,228,123 shares of the company’s stock worth $23,752,000 after buying an additional 427,594 shares in the last quarter. Finally, Iron Triangle Partners LP lifted its holdings in Schrödinger by 84.2% in the 1st quarter. Iron Triangle Partners LP now owns 863,323 shares of the company’s stock worth $23,310,000 after buying an additional 394,738 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Schrödinger Stock Performance

SDGR stock opened at $17.58 on Monday. The stock has a market capitalization of $1.28 billion, a P/E ratio of -9.35 and a beta of 1.50. Schrödinger has a one year low of $16.67 and a one year high of $38.00. The company has a 50 day moving average price of $19.03 and a two-hundred day moving average price of $20.79.

Schrödinger (NASDAQ:SDGR) last released its earnings results on Wednesday, July 31st. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.11. The firm had revenue of $47.33 million during the quarter, compared to analysts’ expectations of $40.19 million. Schrödinger had a negative net margin of 100.42% and a negative return on equity of 38.38%. Research analysts forecast that Schrödinger will post -2.19 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.