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

Schrödinger, Inc. (NASDAQ:SDGR) has earned an average recommendation of “Buy” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating 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 research firms have recently weighed in on SDGR. KeyCorp boosted their target price on Schrödinger from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Piper Sandler reduced their target price on shares of Schrödinger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th.

Insider Activity at Schrödinger

In related news, CFO Geoffrey Craig Porges sold 5,491 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $21.76, for a total transaction of $119,484.16. Following the transaction, the chief financial officer now directly owns 27,544 shares of the company’s stock, valued at $599,357.44. This represents a 16.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 8.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Schrödinger

A number of large investors have recently modified their holdings of the business. Intech Investment Management LLC acquired a new stake in Schrödinger in the 3rd quarter worth approximately $319,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Schrödinger by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 498,513 shares of the company’s stock worth $9,247,000 after buying an additional 19,436 shares during the period. Algert Global LLC grew its holdings in shares of Schrödinger by 45.3% during the third quarter. Algert Global LLC now owns 126,760 shares of the company’s stock valued at $2,351,000 after buying an additional 39,540 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Schrödinger in the 3rd quarter valued at $298,000. Finally, Rubric Capital Management LP raised its stake in Schrödinger by 17.7% in the 3rd quarter. Rubric Capital Management LP now owns 3,685,503 shares of the company’s stock worth $68,366,000 after acquiring an additional 555,503 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Schrödinger Trading Down 1.1 %

Shares of Schrödinger stock opened at $19.74 on Thursday. Schrödinger has a 12 month low of $16.67 and a 12 month high of $29.15. The stock has a 50 day moving average of $23.12 and a 200 day moving average of $20.78. The firm has a market cap of $1.44 billion, a PE ratio of -8.44 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 business had revenue of $88.32 million during the quarter, compared to the consensus estimate of $83.20 million. As a group, equities research analysts forecast that Schrödinger will post -2.37 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.