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

Schrödinger (NASDAQ:SDGR) had its price objective lowered by Craig Hallum from $35.00 to $30.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on SDGR. TD Cowen started coverage on Schrödinger in a report on Friday, January 26th. They issued an outperform rating and a $42.00 target price for the company. The Goldman Sachs Group dropped their price target on Schrödinger from $29.00 to $26.00 and set a neutral rating for the company in a research note on Friday, March 1st. KeyCorp reduced their price target on Schrödinger from $38.00 to $33.00 and set an overweight rating for the company in a report on Thursday, February 29th. Citigroup reduced their price target on Schrödinger from $47.00 to $39.00 and set a buy rating for the company in a report on Thursday, February 29th. Finally, Bank of America reduced their target price on Schrödinger from $38.00 to $32.00 and set a neutral rating on the stock in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $42.80.

Schrödinger Stock Performance

Shares of SDGR traded up $0.09 during mid-day trading on Thursday, hitting $23.77. 43,454 shares of the company’s stock were exchanged, compared to its average volume of 862,847. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -12.60 and a beta of 1.58. Schrödinger has a fifty-two week low of $20.76 and a fifty-two week high of $59.24. The stock’s 50-day moving average is $26.09 and its 200-day moving average is $28.25.

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

Insiders Place Their Bets

In other news, COO Kenneth Patrick Lorton sold 901 shares of the company’s 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 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 legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Robert Lorne Abel sold 1,205 shares of the firm’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Kenneth Patrick Lorton sold 901 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $28.29, for a total transaction of $25,489.29. Following the completion of the sale, the chief operating officer now owns 36,487 shares of the company’s stock, valued at $1,032,217.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,651 shares of company stock worth $102,395. Corporate insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Schrödinger

Several institutional investors have recently added to or reduced their stakes in the business. Spire Wealth Management grew its position in Schrödinger by 66.7% during the 3rd quarter. Spire Wealth Management now owns 1,000 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Schrödinger by 3,480.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,790 shares of the company’s stock worth $64,000 after purchasing an additional 1,740 shares during the last quarter. GAMMA Investing LLC bought a new position in Schrödinger during the fourth quarter valued at approximately $67,000. PNC Financial Services Group Inc. boosted its position in Schrödinger by 186.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock worth $76,000 after purchasing an additional 1,385 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Schrödinger by 23.4% during the 3rd quarter. SG Americas Securities LLC now owns 4,728 shares of the company’s stock valued at $134,000 after purchasing an additional 896 shares during the last quarter. 79.05% of the stock is 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.