Schrodinger (NASDAQ:SDGR) Trading 10.4% Higher – Time to Buy?

Schrodinger, Inc. (NASDAQ:SDGR) shares shot up 10.4% during mid-day trading on Wednesday . The stock traded as high as $19.63 and last traded at $19.5150. Approximately 1,100,468 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 1,339,451 shares. The stock had previously closed at $17.67.

Analysts Set New Price Targets

A number of research firms recently weighed in on SDGR. Wall Street Zen upgraded shares of Schrodinger from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings cut shares of Schrodinger from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 12th. 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. Finally, Morgan Stanley reduced their price objective on shares of Schrodinger from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.50.

Schrodinger Price Performance

The company has a market capitalization of $1.44 billion, a PE ratio of -26.32 and a beta of 1.63. The company’s 50 day simple moving average is $16.13 and its 200 day simple moving average is $13.82.

Schrodinger (NASDAQ:SDGR) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.49. Schrodinger had a negative net margin of 20.98% and a negative return on equity of 16.37%. The company had revenue of $58.89 million for the quarter, compared to analysts’ expectations of $47.19 million. During the same quarter last year, the company earned ($0.65) earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts forecast that Schrodinger, Inc. will post -1.89 EPS for the current year.

Institutional Investors Weigh In On Schrodinger

A number of institutional investors and hedge funds have recently bought and sold shares of SDGR. Rubric Capital Management LP raised its position in Schrodinger by 43.8% in the 1st quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $68,160,000 after purchasing an additional 1,828,502 shares during the last quarter. Quantinno Capital Management LP purchased a new position in Schrodinger during the 1st quarter worth $1,978,000. UBS Group AG grew its position in Schrodinger by 51.3% during the 4th quarter. UBS Group AG now owns 1,442,799 shares of the company’s stock worth $25,797,000 after purchasing an additional 489,059 shares during the last quarter. Wesbanco Bank Inc. acquired a new position in Schrodinger in the fourth quarter valued at $839,000. Finally, Nano Cap New Millennium Growth Fund L P acquired a new position in Schrodinger in the fourth quarter valued at $894,000. 79.05% of the stock is 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.