Schrödinger (NASDAQ:SDGR) Price Target Cut to $37.00

Schrödinger (NASDAQ:SDGR) had its price target decreased by research analysts at Citigroup from $39.00 to $37.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 56.25% from the stock’s current price.

Other analysts have also issued reports about the company. Piper Sandler cut their price target on Schrödinger from $60.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. TD Cowen initiated coverage on Schrödinger in a report on Friday, January 26th. They set an “outperform” rating and a $42.00 target price on the stock. Craig Hallum dropped their target price on Schrödinger from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday. The Goldman Sachs Group lowered their price target on Schrödinger from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, March 1st. Finally, Bank of America lowered their price target on Schrödinger from $38.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Schrödinger presently has an average rating of “Moderate Buy” and a consensus target price of $42.80.

Schrödinger Stock Performance

SDGR stock traded up $0.49 during midday trading on Thursday, hitting $23.68. 1,016,971 shares of the company’s stock were exchanged, compared to its average volume of 798,222. The stock’s fifty day moving average price is $26.09 and its 200-day moving average price is $28.23. The company has a market cap of $1.71 billion, a PE ratio of -12.60 and a beta of 1.58. Schrödinger has a one year low of $20.76 and a one year high of $59.24.

Schrödinger (NASDAQ:SDGR) last posted its earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate 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 return on equity of 29.25% and a negative net margin of 75.94%. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.39) earnings per share. On average, analysts expect that Schrödinger will post -2.73 EPS for the current year.

Insider Activity

In other news, COO Kenneth Patrick Lorton sold 901 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $28.29, for a total value of $25,489.29. Following the completion of the transaction, the chief operating officer now directly owns 36,487 shares in the company, valued at approximately $1,032,217.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Kenneth Patrick Lorton sold 901 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $28.29, for a total value of $25,489.29. Following the completion of the sale, the chief operating officer now directly owns 36,487 shares in the company, valued at $1,032,217.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Lorne Abel sold 1,205 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $27.55, for a total value of $33,197.75. Following the completion of the sale, the insider now owns 9,340 shares of the company’s stock, valued at $257,317. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,651 shares of company stock worth $102,395. Insiders own 7.60% of the company’s stock.

Institutional Trading of Schrödinger

A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its holdings in Schrödinger by 8.4% during the 4th quarter. SG Americas Securities LLC now owns 5,125 shares of the company’s stock worth $183,000 after acquiring an additional 397 shares during the period. Spire Wealth Management grew its stake in shares of Schrödinger by 66.7% in the 3rd quarter. Spire Wealth Management now owns 1,000 shares of the company’s stock valued at $28,000 after buying an additional 400 shares during the period. Motley Fool Asset Management LLC grew its stake in shares of Schrödinger by 2.0% in the 3rd quarter. Motley Fool Asset Management LLC now owns 29,402 shares of the company’s stock valued at $831,000 after buying an additional 570 shares during the period. Tudor Investment Corp Et Al grew its stake in shares of Schrödinger by 1.0% in the 3rd quarter. Tudor Investment Corp Et Al now owns 91,725 shares of the company’s stock valued at $2,593,000 after buying an additional 908 shares during the period. Finally, Perigon Wealth Management LLC grew its stake in shares of Schrödinger by 14.1% in the 3rd quarter. Perigon Wealth Management LLC now owns 7,811 shares of the company’s stock valued at $221,000 after buying an additional 964 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

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.