Morgan Stanley Issues Pessimistic Forecast for Schrodinger (NASDAQ:SDGR) Stock Price

Schrodinger (NASDAQ:SDGR) had its price objective decreased by equities researchers at Morgan Stanley from $19.00 to $17.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 33.05% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. KeyCorp lowered their price target on shares of Schrodinger from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Wall Street Zen cut shares of Schrodinger from a “hold” rating to a “strong sell” rating in a report on Saturday, May 9th. Finally, UBS Group dropped their target price on Schrodinger from $18.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 17th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Schrodinger presently has an average rating of “Hold” and a consensus price target of $20.25.

Schrodinger Price Performance

Shares of NASDAQ SDGR traded up $0.03 during midday trading on Thursday, reaching $12.78. The company’s stock had a trading volume of 536,488 shares, compared to its average volume of 1,391,091. Schrodinger has a 12-month low of $10.94 and a 12-month high of $27.63. The firm has a 50 day moving average price of $12.14 and a 200-day moving average price of $15.07. The stock has a market capitalization of $943.26 million, a P/E ratio of -9.06 and a beta of 1.57.

Schrodinger (NASDAQ:SDGR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.25). The company had revenue of $58.59 million during the quarter, compared to the consensus estimate of $47.57 million. Schrodinger had a negative return on equity of 30.85% and a negative net margin of 40.61%.The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.82) EPS. On average, equities analysts predict that Schrodinger will post -1.26 EPS for the current year.

Insider Activity

In other news, CEO Ramy Farid sold 43,000 shares of Schrodinger stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $12.33, for a total transaction of $530,190.00. Following the completion of the transaction, the chief executive officer directly owned 330,824 shares in the company, valued at approximately $4,079,059.92. This trade represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 55,501 shares of company stock worth $691,160 in the last ninety days. 10.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Schrodinger

Several large investors have recently made changes to their positions in SDGR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Schrodinger by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,055 shares of the company’s stock valued at $653,000 after purchasing an additional 1,412 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Schrodinger by 75.2% during the second quarter. Cetera Investment Advisers now owns 29,973 shares of the company’s stock valued at $603,000 after purchasing an additional 12,868 shares during the last quarter. Norges Bank purchased a new position in shares of Schrodinger during the second quarter valued at approximately $311,000. Invesco Ltd. lifted its holdings in shares of Schrodinger by 15.6% during the second quarter. Invesco Ltd. now owns 155,895 shares of the company’s stock valued at $3,137,000 after purchasing an additional 21,039 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of Schrodinger during the second quarter valued at approximately $1,227,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Schrodinger Company Profile

Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.