Schrodinger (NASDAQ:SDGR) Hits New 52-Week High on Analyst Upgrade

Schrodinger, Inc. (NASDAQ:SDGR)’s stock price reached a new 52-week high on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $33.09 and last traded at $32.60, with a volume of 4612097 shares changing hands. The stock had previously closed at $30.31.

Other research analysts have also recently issued reports about the stock. UBS Group initiated coverage on shares of Schrodinger in a research report on Friday, August 14th. They issued a “neutral” rating and a $19.00 price objective on the stock. Wall Street Zen upgraded shares of Schrodinger from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings raised shares of Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.80.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Schrodinger

Large investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Schrodinger in the 2nd quarter worth approximately $170,978,000. Rubric Capital Management LP grew its position in Schrodinger by 43.8% during the first quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $68,160,000 after acquiring an additional 1,828,502 shares during the last quarter. Amova Asset Management Americas Inc. grew its position in Schrodinger by 13.2% during the first quarter. Amova Asset Management Americas Inc. now owns 3,190,837 shares of the company’s stock valued at $36,248,000 after acquiring an additional 371,167 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Schrodinger during the second quarter worth approximately $4,986,000. Finally, Tejara Capital Ltd purchased a new position in shares of Schrodinger during the second quarter worth approximately $4,553,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Schrodinger Trading Down 5.6%

The stock has a market capitalization of $2.01 billion, a P/E ratio of -36.88 and a beta of 1.62. The stock’s fifty day moving average price is $22.27 and its two-hundred day moving average price is $16.79.

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

About Schrodinger

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.