Schrödinger, Inc. (NASDAQ:SDGR) Given Consensus Rating of “Buy” by Brokerages

Shares of Schrödinger, Inc. (NASDAQ:SDGR) have been given a consensus recommendation of “Buy” by the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $32.29.

Several analysts have commented on the stock. Piper Sandler decreased their price target on shares of Schrödinger from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. KeyCorp raised their target price on shares of Schrödinger from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, January 24th.

Schrödinger Stock Performance

NASDAQ:SDGR opened at $20.60 on Thursday. The firm has a 50-day simple moving average of $23.06 and a 200-day simple moving average of $20.79. Schrödinger has a one year low of $16.67 and a one year high of $29.15. The firm has a market cap of $1.50 billion, a P/E ratio of -8.80 and a beta of 1.62.

Schrödinger (NASDAQ:SDGR) last posted its earnings results on Wednesday, February 26th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.20). Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The company had revenue of $88.32 million for the quarter, compared to analysts’ expectations of $83.20 million. On average, research analysts predict that Schrödinger will post -2.37 EPS for the current fiscal year.

Insider Buying and Selling at Schrödinger

In other news, CFO Geoffrey Craig Porges sold 5,491 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $21.76, for a total transaction of $119,484.16. Following the sale, the chief financial officer now directly owns 27,544 shares of the company’s stock, valued at $599,357.44. The trade was a 16.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Institutional Trading of Schrödinger

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SDGR. Avanza Fonder AB acquired a new position in shares of Schrödinger in the fourth quarter valued at about $577,000. Barclays PLC increased its holdings in Schrödinger by 421.6% in the 3rd quarter. Barclays PLC now owns 107,554 shares of the company’s stock worth $1,995,000 after buying an additional 86,933 shares during the period. State Street Corp lifted its stake in Schrödinger by 1.8% during the 3rd quarter. State Street Corp now owns 2,155,620 shares of the company’s stock valued at $39,987,000 after acquiring an additional 38,972 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Schrödinger by 60.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company’s stock valued at $67,718,000 after acquiring an additional 1,319,464 shares during the period. Finally, Rubric Capital Management LP boosted its holdings in shares of Schrödinger by 17.7% in the 3rd quarter. Rubric Capital Management LP now owns 3,685,503 shares of the company’s stock valued at $68,366,000 after acquiring an additional 555,503 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

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.