Schrödinger (NASDAQ:SDGR) Price Target Cut to $30.00

Schrödinger (NASDAQ:SDGR) had its price target cut by equities research analysts at Craig Hallum from $35.00 to $30.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s target price would suggest a potential upside of 26.69% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Piper Sandler dropped their target price on shares of Schrödinger from $60.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. TD Cowen initiated coverage on shares of Schrödinger in a report on Friday, January 26th. They set an “outperform” rating and a $42.00 price objective for the company. The Goldman Sachs Group dropped their price objective on shares of Schrödinger from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, March 1st. Bank of America dropped their price objective on shares of Schrödinger from $38.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Finally, KeyCorp dropped their price objective on shares of Schrödinger from $38.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.80.

Schrödinger Trading Up 2.1 %

Schrödinger stock traded up $0.49 during mid-day trading on Thursday, hitting $23.68. The stock had a trading volume of 1,016,971 shares, compared to its average volume of 798,222. The firm has a market capitalization of $1.71 billion, a P/E ratio of -12.60 and a beta of 1.58. The firm’s 50 day moving average is $26.09 and its 200 day moving average is $28.23. Schrödinger has a one year low of $20.76 and a one year high of $59.24.

Schrödinger (NASDAQ:SDGR) last issued its earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.12. The company had revenue of $74.10 million during the quarter, compared to the consensus estimate of $79.12 million. Schrödinger had a negative net margin of 75.94% and a negative return on equity of 29.25%. Schrödinger’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.39) EPS. As a group, equities research analysts forecast that Schrödinger will post -2.73 earnings per share for the current year.

Insider Activity at Schrödinger

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

Institutional Trading of Schrödinger

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in Schrödinger in the 4th quarter worth about $67,000. ARK Investment Management LLC raised 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. Sumitomo Mitsui Trust Holdings Inc. raised its position in 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 purchasing an additional 865,867 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in Schrödinger in the 3rd quarter worth about $905,000. Finally, TrueMark Investments LLC purchased a new stake in Schrödinger in the 4th quarter worth about $1,469,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

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.