Analysts Set Schrödinger, Inc. (NASDAQ:SDGR) Target Price at $32.80

Schrödinger, Inc. (NASDAQ:SDGR) has been assigned an average rating of “Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $32.80.

SDGR has been the subject of several analyst reports. Piper Sandler cut their price target on shares of Schrödinger from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. KeyCorp increased their target price on shares of Schrödinger from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th.

Schrödinger Stock Down 6.1%

NASDAQ SDGR opened at $21.43 on Tuesday. The stock has a market capitalization of $1.57 billion, a P/E ratio of -9.16 and a beta of 1.63. Schrödinger has a 52-week low of $16.60 and a 52-week high of $28.47. The firm has a 50-day moving average price of $23.64 and a 200 day moving average price of $22.41.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.81) by ($0.01). The firm had revenue of $59.55 million for the quarter, compared to analysts’ expectations of $54.60 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The company’s revenue for the quarter was up 62.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.86) earnings per share. On average, equities research analysts expect that Schrödinger will post -2.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Schrödinger

In other news, insider Karen Akinsanya sold 16,723 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $25.09, for a total value of $419,580.07. Following the sale, the insider now directly owns 15,625 shares in the company, valued at $392,031.25. This represents a 51.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Schrödinger

Several large investors have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Schrödinger by 169.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,357,532 shares of the company’s stock worth $86,018,000 after acquiring an additional 2,737,728 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Schrödinger by 60.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company’s stock worth $67,718,000 after buying an additional 1,319,464 shares during the period. Nikko Asset Management Americas Inc. increased its stake in Schrödinger by 108.7% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company’s stock worth $47,499,000 after buying an additional 1,283,949 shares during the period. American Century Companies Inc. acquired a new position in Schrödinger during the 1st quarter worth $19,787,000. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Schrödinger by 22.5% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,969,941 shares of the company’s stock valued at $38,887,000 after buying an additional 362,285 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

About Schrödinger

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.