Schrödinger (NASDAQ:SDGR) Stock Price Up 8% – Time to Buy?

Schrödinger, Inc. (NASDAQ:SDGR) rose 8% on Tuesday . The company traded as high as $20.54 and last traded at $20.52. Approximately 283,144 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 537,528 shares. The stock had previously closed at $19.00.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets lifted their price objective on Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Schrödinger currently has an average rating of “Moderate Buy” and a consensus price target of $32.90.

Schrödinger Price Performance

The stock has a market capitalization of $1.78 billion, a P/E ratio of -10.43 and a beta of 1.59. The stock’s fifty day moving average is $20.59 and its 200-day moving average is $20.06.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.52) earnings per share (EPS) 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 quarter last year, the company posted ($0.86) EPS. The business’s revenue was down 17.1% compared to the same quarter last year. On average, research analysts expect that Schrödinger, Inc. will post -2.29 EPS for the current year.

Hedge Funds Weigh In On Schrödinger

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV boosted its holdings in shares of Schrödinger by 73.9% during the 4th quarter. KBC Group NV now owns 4,361 shares of the company’s stock worth $84,000 after buying an additional 1,853 shares during the period. Geneos Wealth Management Inc. lifted its position in Schrödinger by 15.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 59,996 shares of the company’s stock worth $1,157,000 after acquiring an additional 8,021 shares during the last quarter. Avanza Fonder AB bought a new stake in Schrödinger during the fourth quarter valued at about $577,000. GAMMA Investing LLC grew its position in shares of Schrödinger by 87.5% in the fourth quarter. GAMMA Investing LLC now owns 2,796 shares of the company’s stock valued at $54,000 after purchasing an additional 1,305 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Schrödinger by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 122,702 shares of the company’s stock worth $2,276,000 after purchasing an additional 4,403 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

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.