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

Schrödinger (NASDAQ:SDGR) had its price objective trimmed by Citigroup from $39.00 to $37.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

SDGR has been the subject of several other reports. Craig Hallum cut their price target on shares of Schrödinger from $35.00 to $30.00 and set a buy rating for the company in a research report on Thursday. Bank of America lowered their price objective on shares of Schrödinger from $38.00 to $32.00 and set a neutral rating for the company in a research note on Thursday, February 29th. TD Cowen started coverage on shares of Schrödinger in a research note on Friday, January 26th. They set an outperform rating and a $42.00 price objective for the company. Piper Sandler lowered their price objective on shares of Schrödinger from $60.00 to $50.00 and set an overweight rating for the company in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group lowered their price objective on shares of Schrödinger from $29.00 to $26.00 and set a neutral rating for the company in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $42.80.

Schrödinger Price Performance

NASDAQ SDGR opened at $23.68 on Thursday. Schrödinger has a 12-month low of $20.76 and a 12-month high of $59.24. The company’s 50 day moving average is $26.09 and its 200-day moving average is $28.23.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.12. Schrödinger had a negative net margin of 75.94% and a negative return on equity of 29.25%. The business had revenue of $74.10 million during the quarter, compared to analyst estimates of $79.12 million. During the same period in the prior year, the business posted ($0.39) earnings per share. The company’s revenue was up 30.5% on a year-over-year basis. On average, equities analysts expect that Schrödinger will post -2.7 EPS for the current year.

Insider Buying and Selling

In related news, COO Kenneth Patrick Lorton sold 901 shares of the 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 of the company’s stock, valued at $1,032,217.23. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Schrödinger news, insider Robert Lorne Abel sold 1,205 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $27.55, for a total transaction of $33,197.75. Following the completion of the transaction, the insider now owns 9,340 shares of the company’s stock, valued at $257,317. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Kenneth Patrick Lorton sold 901 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $28.29, for a total transaction of $25,489.29. Following 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 disclosure for this sale can be found here. Insiders sold a total of 3,651 shares of company stock valued at $102,395 over the last three months. Corporate insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Schrödinger

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its stake in shares of Schrödinger by 70.2% during the first quarter. Geneos Wealth Management Inc. now owns 37,126 shares of the company’s stock valued at $1,002,000 after purchasing an additional 15,310 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of Schrödinger by 127.7% during the first quarter. GSA Capital Partners LLP now owns 39,604 shares of the company’s stock valued at $1,069,000 after buying an additional 22,210 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of Schrödinger by 0.4% during the first 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 last quarter. Perigon Wealth Management LLC grew its holdings in shares of Schrödinger by 14.0% during the first quarter. Perigon Wealth Management LLC now owns 9,195 shares of the company’s stock valued at $248,000 after buying an additional 1,130 shares during the last quarter. Finally, TrueMark Investments LLC grew its holdings in shares of Schrödinger by 13.5% during the first quarter. TrueMark Investments LLC now owns 46,572 shares of the company’s stock valued at $1,257,000 after buying an additional 5,551 shares during the last quarter. 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.