Brokerages Set Schrödinger, Inc. (NASDAQ:SDGR) Price Target at $32.90

Schrödinger, Inc. (NASDAQ:SDGR) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $32.90.

Several equities research analysts have weighed in on SDGR shares. Morgan Stanley reduced their price objective on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 21st. BMO Capital Markets boosted their price target on Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th.

Insiders Place Their Bets

In other news, insider Margaret Dugan sold 1,531 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total transaction of $27,221.18. Following the completion of the sale, the insider now owns 13,469 shares in the company, valued at approximately $239,478.82. This represents a 10.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.60% of the stock is owned by company insiders.

Institutional Trading of Schrödinger

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stephens Investment Management Group LLC lifted its holdings in shares of Schrödinger by 39.6% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock valued at $28,565,000 after purchasing an additional 436,789 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Schrödinger by 2,868.8% during the 2nd quarter. Millennium Management LLC now owns 487,831 shares of the company’s stock valued at $9,435,000 after purchasing an additional 471,399 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Schrödinger by 7.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 500,461 shares of the company’s stock valued at $9,679,000 after purchasing an additional 35,036 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Schrödinger by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,191,054 shares of the company’s stock valued at $40,644,000 after purchasing an additional 29,920 shares during the last quarter. Finally, Quest Partners LLC lifted its holdings in shares of Schrödinger by 861.0% during the 3rd quarter. Quest Partners LLC now owns 43,773 shares of the company’s stock valued at $812,000 after purchasing an additional 39,218 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Schrödinger Trading Up 2.3 %

NASDAQ:SDGR opened at $20.84 on Friday. The company has a market capitalization of $1.52 billion, a P/E ratio of -8.91 and a beta of 1.50. Schrödinger has a 12 month low of $16.67 and a 12 month high of $38.00. The business’s 50-day moving average is $18.63 and its 200 day moving average is $20.18.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.12). Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The company had revenue of $35.30 million for the quarter, compared to the consensus estimate of $41.25 million. During the same period in the previous year, the firm earned ($0.86) earnings per share. The company’s revenue was down 17.1% compared to the same quarter last year. On average, research analysts forecast that Schrödinger will post -2.29 earnings per share for the current 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.