Schrödinger (NASDAQ:SDGR) Price Target Lowered to $37.00 at Citigroup

Schrödinger (NASDAQ:SDGR) had its price target cut by Citigroup from $39.00 to $37.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. Piper Sandler dropped their price target on Schrödinger from $60.00 to $50.00 and set an overweight rating for the company in a research report on Thursday, February 29th. Bank of America dropped their price target on Schrödinger from $38.00 to $32.00 and set a neutral rating for the company in a research report on Thursday, February 29th. The Goldman Sachs Group decreased their price objective on Schrödinger from $29.00 to $26.00 and set a neutral rating on the stock in a research note on Friday, March 1st. KeyCorp decreased their price objective on Schrödinger from $38.00 to $33.00 and set an overweight rating on the stock in a research note on Thursday, February 29th. Finally, Craig Hallum decreased their price objective on Schrödinger from $35.00 to $30.00 and set a buy rating on the stock in a research note on Thursday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $42.80.

Schrödinger Trading Up 2.1 %

Shares of SDGR stock traded up $0.49 during mid-day 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. Schrödinger has a 12-month low of $20.76 and a 12-month high of $59.24. The company has a market cap of $1.71 billion, a P/E ratio of -12.60 and a beta of 1.58. The business has a 50-day simple moving average of $26.09 and a 200 day simple moving average of $28.23.

Schrödinger (NASDAQ:SDGR) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $79.12 million. During the same quarter last year, the business posted ($0.39) earnings per share. The business’s revenue for the quarter was up 30.5% on a year-over-year basis. Research analysts anticipate that Schrödinger will post -2.73 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Schrödinger

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Schrödinger by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,776,631 shares of the company’s stock valued at $242,603,000 after buying an additional 77,830 shares during the period. ARK Investment Management LLC raised its holdings in shares of Schrödinger by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 3,053,521 shares of the company’s stock valued at $109,316,000 after buying an additional 217,618 shares during the period. Baillie Gifford & Co. raised its holdings in shares of Schrödinger by 0.4% during the 1st quarter. Baillie Gifford & Co. now owns 2,612,007 shares of the company’s stock valued at $70,524,000 after buying an additional 9,618 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Schrödinger by 60.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,300,750 shares of the company’s stock valued at $82,367,000 after buying an additional 865,867 shares during the period. Finally, FMR LLC raised its holdings in shares of Schrödinger by 0.9% during the 3rd quarter. FMR LLC now owns 1,735,362 shares of the company’s stock valued at $49,059,000 after buying an additional 16,149 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Schrödinger Company Profile

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.