Schrödinger (NASDAQ:SDGR) Price Target Cut to $30.00

Schrödinger (NASDAQ:SDGR) had its price objective decreased by equities researchers at Craig Hallum from $35.00 to $30.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price target points to a potential upside of 26.69% from the stock’s current price.

Several other research firms have also commented on SDGR. KeyCorp reduced their price target on Schrödinger from $38.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Bank of America reduced their price target on Schrödinger from $38.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. The Goldman Sachs Group reduced their price target on Schrödinger from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, March 1st. TD Cowen assumed coverage on Schrödinger in a research report on Friday, January 26th. They set an “outperform” rating and a $42.00 price objective for the company. Finally, Piper Sandler cut their price objective on Schrödinger from $60.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.80.

Schrödinger Trading Up 2.1 %

SDGR stock traded up $0.49 during midday trading on Thursday, reaching $23.68. The stock had a trading volume of 1,016,971 shares, compared to its average volume of 798,222. The company’s fifty day simple moving average is $26.09 and its 200 day simple moving average is $28.23. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -12.60 and a beta of 1.58. Schrödinger has a 52-week low of $20.76 and a 52-week high of $59.24.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.12. Schrödinger had a negative return on equity of 29.25% and a negative net margin of 75.94%. The business had revenue of $74.10 million for the quarter, compared to analyst estimates of $79.12 million. During the same quarter in the previous year, the firm earned ($0.39) EPS. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. Sell-side analysts predict that Schrödinger will post -2.73 EPS for the current year.

Insider Buying and Selling at Schrödinger

In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of Schrödinger stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $28.29, for a total value of $25,489.29. Following the completion of the transaction, the chief operating officer now directly owns 36,487 shares of the company’s stock, valued at approximately $1,032,217.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of Schrödinger stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $28.29, for a total value of $25,489.29. Following the completion of the transaction, the chief operating officer now directly owns 36,487 shares of the company’s stock, valued at approximately $1,032,217.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Lorne Abel sold 1,205 shares of Schrödinger stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $27.55, for a total value of $33,197.75. Following the completion of the transaction, the insider now directly owns 9,340 shares of the company’s stock, valued at $257,317. The disclosure for this sale can be found here. Insiders sold a total of 3,651 shares of company stock valued at $102,395 in the last three months. 7.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Schrödinger

Several hedge funds and other institutional investors have recently made changes to their positions in SDGR. Spire Wealth Management boosted its stake in shares of Schrödinger by 66.7% in the 3rd quarter. Spire Wealth Management now owns 1,000 shares of the company’s stock valued at $28,000 after buying an additional 400 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Schrödinger by 3,480.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,790 shares of the company’s stock valued at $64,000 after buying an additional 1,740 shares during the period. GAMMA Investing LLC purchased a new position in shares of Schrödinger in the 4th quarter valued at about $67,000. PNC Financial Services Group Inc. boosted its stake in shares of Schrödinger by 186.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock valued at $76,000 after buying an additional 1,385 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of Schrödinger by 23.4% in the 3rd quarter. SG Americas Securities LLC now owns 4,728 shares of the company’s stock valued at $134,000 after buying an additional 896 shares during the period. Hedge funds and other institutional investors 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.