Analysts Set Schrödinger, Inc. (NASDAQ:SDGR) Price Target at $42.80

Shares of Schrödinger, Inc. (NASDAQ:SDGR) have been given an average rating of “Moderate Buy” by the nine ratings firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $42.80.

A number of equities analysts have issued reports on SDGR shares. KeyCorp cut their price target on Schrödinger from $38.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. The Goldman Sachs Group reduced their price objective on shares of Schrödinger from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, March 1st. TD Cowen initiated coverage on shares of Schrödinger in a research report on Friday, January 26th. They set an “outperform” rating and a $42.00 price target for the company. Citigroup reduced their price target on shares of Schrödinger from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Piper Sandler cut their target price on shares of Schrödinger from $60.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th.

Insider Activity

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

Hedge Funds Weigh In On Schrödinger

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Schrödinger by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 6,776,631 shares of the company’s stock worth $242,603,000 after purchasing an additional 77,830 shares during the last quarter. ARK Investment Management LLC grew its position in Schrödinger by 7.7% in the 4th quarter. ARK Investment Management LLC now owns 3,053,521 shares of the company’s stock worth $109,316,000 after purchasing an additional 217,618 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Schrödinger by 0.4% during the 1st quarter. Baillie Gifford & Co. now owns 2,612,007 shares of the company’s stock valued at $70,524,000 after buying an additional 9,618 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Schrödinger by 60.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,300,750 shares of the company’s stock worth $82,367,000 after buying an additional 865,867 shares during the last quarter. Finally, FMR LLC increased its position in Schrödinger by 0.9% during the third quarter. FMR LLC now owns 1,735,362 shares of the company’s stock valued at $49,059,000 after acquiring an additional 16,149 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Schrödinger Stock Down 2.1 %

Shares of NASDAQ:SDGR opened at $23.22 on Monday. The firm has a market cap of $1.68 billion, a P/E ratio of -12.35 and a beta of 1.58. Schrödinger has a 12-month low of $20.76 and a 12-month high of $59.24. The business has a fifty day simple moving average of $25.59 and a 200 day simple moving average of $28.27.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.12. Schrödinger had a negative return on equity of 29.25% and a negative net margin of 75.94%. The firm had revenue of $74.10 million during the quarter, compared to the consensus estimate of $79.12 million. During the same period last year, the business posted ($0.39) EPS. The business’s revenue was up 30.5% compared to the same quarter last year. As a group, equities research analysts expect that Schrödinger will post -2.7 EPS for the current year.

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.