Schrodinger (NASDAQ:SDGR) Reaches New 12-Month High After Analyst Upgrade

Schrodinger, Inc. (NASDAQ:SDGR)’s stock price hit a new 52-week high during trading 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 traded. The stock had previously closed at $30.31.

Several other equities research analysts also recently weighed in on SDGR. Weiss Ratings raised Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 27th. UBS Group started coverage on Schrodinger in a report on Friday, August 14th. They set a “neutral” rating and a $19.00 target price on the stock. Finally, Wall Street Zen raised Schrodinger from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Schrodinger has a consensus rating of “Moderate Buy” and a consensus target price of $20.80.

Insider Buying and Selling

In other news, insider Karen Akinsanya sold 31,599 shares of Schrodinger stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $29.37, for a total value of $928,062.63. Following the completion of the transaction, the insider owned 69,956 shares in the company, valued at approximately $2,054,607.72. This trade represents a 31.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Schrodinger

Several large investors have recently added to or reduced their stakes in SDGR. Kestra Advisory Services LLC grew its stake in Schrodinger by 2.0% during the 1st quarter. Kestra Advisory Services LLC now owns 51,429 shares of the company’s stock worth $584,000 after buying an additional 1,002 shares during the last quarter. Entropy Technologies LP grew its position in shares of Schrodinger by 17.9% during the first quarter. Entropy Technologies LP now owns 15,257 shares of the company’s stock worth $173,000 after acquiring an additional 2,311 shares during the last quarter. Purpose Unlimited Inc. bought a new position in shares of Schrodinger during the fourth quarter worth about $47,000. GAMMA Investing LLC increased its holdings in shares of Schrodinger by 30.2% in the 2nd quarter. GAMMA Investing LLC now owns 13,581 shares of the company’s stock worth $221,000 after acquiring an additional 3,147 shares during the period. Finally, Allworth Financial LP lifted its position in Schrodinger by 252.3% in the 2nd quarter. Allworth Financial LP now owns 5,270 shares of the company’s stock valued at $86,000 after purchasing an additional 3,774 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors.

Schrodinger Stock Performance

The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -36.88 and a beta of 1.62. The business’s 50 day simple moving average is $22.27 and its 200-day simple moving average is $16.79.

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

Schrodinger Company Profile

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.