Schrödinger (NASDAQ:SDGR) PT Raised to $87.00

Schrödinger (NASDAQ:SDGR – Get Rating) had its target price increased by Piper Sandler from $86.00 to $87.00 in a research note issued to investors on Thursday, The Fly reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 276.62% from the stock’s previous close.

Several other equities research analysts also recently commented on SDGR. The Goldman Sachs Group started coverage on Schrödinger in a report on Monday, December 19th. They set a “neutral” rating and a $23.00 price objective for the company. Morgan Stanley decreased their price objective on Schrödinger from $39.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, November 4th. Citigroup decreased their price objective on Schrödinger from $55.00 to $48.00 in a report on Friday, November 4th. Finally, BMO Capital Markets decreased their price target on Schrödinger from $88.00 to $83.00 and set an “outperform” rating for the company in a report on Friday, November 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.80.

Schrödinger Price Performance

Schrödinger stock opened at $23.10 on Thursday. The stock’s 50 day moving average is $19.37 and its 200 day moving average is $24.59. The firm has a market cap of $1.65 billion, a P/E ratio of -10.79 and a beta of 0.89. Schrödinger has a one year low of $15.85 and a one year high of $37.25.

Schrödinger (NASDAQ:SDGR – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.05. The company had revenue of $36.98 million for the quarter, compared to analyst estimates of $32.34 million. Schrödinger had a negative return on equity of 29.12% and a negative net margin of 89.67%. Equities analysts anticipate that Schrödinger will post -2.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Schrödinger news, CEO Ramy Farid sold 66,886 shares of the company’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $18.28, for a total value of $1,222,676.08. Following the transaction, the chief executive officer now directly owns 184,432 shares in the company, valued at approximately $3,371,416.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Schrödinger

Several institutional investors have recently modified their holdings of the company. Stanley Laman Group Ltd. increased its position in shares of Schrödinger by 9.7% during the 4th quarter. Stanley Laman Group Ltd. now owns 331,045 shares of the company’s stock valued at $6,187,000 after purchasing an additional 29,160 shares during the last quarter. Aurora Investment Managers LLC. increased its position in shares of Schrödinger by 3.7% during the 4th quarter. Aurora Investment Managers LLC. now owns 130,307 shares of the company’s stock valued at $2,435,000 after purchasing an additional 4,655 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Schrödinger by 13.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 179,319 shares of the company’s stock valued at $4,479,000 after purchasing an additional 21,486 shares during the last quarter. Balyasny Asset Management LLC boosted its holdings in Schrödinger by 85.9% during the 3rd quarter. Balyasny Asset Management LLC now owns 39,797 shares of the company’s stock valued at $995,000 after acquiring an additional 18,384 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in Schrödinger by 80.7% during the 3rd quarter. Alliancebernstein L.P. now owns 116,997 shares of the company’s stock valued at $2,923,000 after acquiring an additional 52,233 shares during the period. 68.70% of the stock is currently owned by institutional investors.

Schrödinger Company Profile

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Schrödinger, Inc, together with its subsidiaries, provides physics-based software 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 selling its software for drug discovery in the life sciences industry, as well as to customers in materials science industries.