Schrodinger (NASDAQ:SDGR) Raised to Strong-Buy at Zacks Research

Schrodinger (NASDAQ:SDGR) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

SDGR has been the topic of a number of other reports. Weiss Ratings upgraded Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 27th. Wall Street Zen upgraded Schrodinger from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, UBS Group began coverage on Schrodinger in a report on Friday, August 14th. They set a “neutral” rating and a $19.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.80.

Schrodinger Stock Performance

NASDAQ:SDGR opened at $28.90 on Monday. Schrodinger has a one year low of $10.94 and a one year high of $33.78. The stock has a market cap of $2.13 billion, a PE ratio of -39.05 and a beta of 1.62. The stock has a 50 day moving average price of $22.03 and a 200 day moving average price of $16.68.

Schrodinger (NASDAQ:SDGR) last issued its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.49. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%.The company had revenue of $58.89 million during the quarter, compared to analysts’ expectations of $47.19 million. During the same period in the prior year, the business earned ($0.65) EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, analysts predict that Schrodinger will post -1.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Schrodinger news, insider Karen Akinsanya sold 31,599 shares of the business’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $29.37, for a total transaction of $928,062.63. Following the sale, the insider directly owned 69,956 shares in the company, valued at $2,054,607.72. This represents a 31.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Schrodinger

Several institutional investors have recently modified their holdings of SDGR. Purpose Unlimited Inc. acquired a new stake in Schrodinger during the fourth quarter worth approximately $47,000. Allworth Financial LP purchased a new position in shares of Schrodinger in the 2nd quarter valued at $86,000. Integrated Wealth Concepts LLC acquired a new stake in Schrodinger during the 2nd quarter worth $102,000. PNC Financial Services Group Inc. lifted its position in Schrodinger by 1,037.1% in the first quarter. PNC Financial Services Group Inc. now owns 7,778 shares of the company’s stock valued at $88,000 after acquiring an additional 7,094 shares during the last quarter. Finally, Portland Investment Counsel Inc. purchased a new stake in Schrodinger in the second quarter valued at $162,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Schrodinger Company Profile

Schrödinger, Inc is a technology company that develops computational software for pharmaceutical and materials research. Its platform uses physics-based modeling, machine learning and other computational methods to help scientists design and optimize molecules, evaluate potential drug candidates and investigate material properties.

The company’s software offerings include molecular modeling, simulation, predictive modeling and collaborative research tools, such as Maestro, Desmond, Jaguar, FEP+ and LiveDesign.