Schrodinger (NASDAQ:SDGR) Stock Price Expected to Rise, TD Cowen Analyst Says

Schrodinger (NASDAQ:SDGR) had its price objective hoisted by stock analysts at TD Cowen from $31.00 to $36.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen‘s target price would suggest a potential upside of 23.63% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Wall Street Zen upgraded Schrodinger from a “strong sell” rating to a “hold” rating in a report on Saturday, August 8th. KeyCorp increased their price objective on shares of Schrodinger from $20.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, October 16th. Zacks Research lowered Schrodinger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. UBS Group boosted their price objective on shares of Schrodinger from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, October 20th. Finally, Weiss Ratings upgraded Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.67.

Schrodinger Trading Up 2.1%

NASDAQ:SDGR traded up $0.60 during mid-day trading on Thursday, hitting $29.12. The company had a trading volume of 1,661,551 shares, compared to its average volume of 1,546,177. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -39.84 and a beta of 1.69. Schrodinger has a 1 year low of $10.94 and a 1 year high of $33.78. The business has a fifty day simple moving average of $25.43 and a 200-day simple moving average of $16.95.

Schrodinger (NASDAQ:SDGR) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.67) by $0.17. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%. The firm had revenue of $64.49 million for the quarter, compared to analyst estimates of $47.73 million. During the same period in the previous year, the company posted ($0.45) EPS. Schrodinger’s revenue for the quarter was up 18.7% on a year-over-year basis. As a group, research analysts anticipate that Schrodinger will post -1.50 earnings per share for the current year.

Insider Buying and Selling at Schrodinger

In related news, insider Karen Akinsanya sold 31,599 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $29.37, for a total transaction of $928,062.63. Following the completion of the transaction, the insider owned 69,956 shares of the company’s stock, valued at $2,054,607.72. This trade represents a 31.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund purchased a new stake in shares of Schrodinger during the third quarter valued at $922,000. Fulcrum Asset Management LLP grew its position in Schrodinger by 1,509.3% during the third quarter. Fulcrum Asset Management LLP now owns 3,476 shares of the company’s stock valued at $105,000 after purchasing an additional 3,260 shares in the last quarter. Pictet Asset Management Holding SA purchased a new position in shares of Schrodinger during the 3rd quarter valued at $332,000. Calamos Advisors LLC acquired a new position in Schrodinger in the 3rd quarter worth about $1,864,000. Finally, Commonwealth Equity Services LLC acquired a new position in Schrodinger in the third quarter worth approximately $317,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Schrodinger Company Profile

Schrödinger, Inc develops computational software and services designed to support pharmaceutical, biotechnology and materials research. Its platform uses physics-based modeling, machine learning and other computational methods to help scientists analyze molecular interactions, design compounds and prioritize candidates for experimental testing.

The company’s software offerings include tools for molecular modeling, quantum chemistry, molecular dynamics, virtual screening, property prediction and free-energy calculations.