Schrödinger (NASDAQ:SDGR) Price Target Lowered to $37.00 at Citigroup

Schrödinger (NASDAQ:SDGR) had its target price decreased by Citigroup from $39.00 to $37.00 in a report published on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

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

Schrödinger Stock Up 2.1 %

NASDAQ:SDGR traded up $0.49 during mid-day trading on Thursday, reaching $23.68. The company’s 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 PE ratio of -12.60 and a beta of 1.58. The stock has a fifty day moving average of $26.09 and a 200-day moving average of $28.23. Schrödinger has a 1 year low of $20.76 and a 1 year high of $59.24.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. The firm had revenue of $74.10 million for 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%. The company’s quarterly revenue was up 30.5% on a year-over-year basis. During the same period last year, the firm earned ($0.39) earnings per share. On average, analysts expect that Schrödinger will post -2.73 earnings per share for the current year.

Insider Transactions at Schrödinger

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

Institutional Trading of Schrödinger

A number of hedge funds have recently modified their holdings of SDGR. SG Americas Securities LLC grew its position in Schrödinger by 8.4% during the fourth quarter. SG Americas Securities LLC now owns 5,125 shares of the company’s stock valued at $183,000 after buying an additional 397 shares during the period. Spire Wealth Management grew its position in shares of Schrödinger by 66.7% during the 3rd quarter. Spire Wealth Management now owns 1,000 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares during the period. Motley Fool Asset Management LLC increased its stake in shares of Schrödinger by 2.0% in the 3rd quarter. Motley Fool Asset Management LLC now owns 29,402 shares of the company’s stock valued at $831,000 after purchasing an additional 570 shares in the last quarter. Tudor Investment Corp Et Al raised its holdings in Schrödinger by 1.0% in the 3rd quarter. Tudor Investment Corp Et Al now owns 91,725 shares of the company’s stock worth $2,593,000 after purchasing an additional 908 shares during the period. Finally, Perigon Wealth Management LLC boosted its position in Schrödinger by 14.1% during the third quarter. Perigon Wealth Management LLC now owns 7,811 shares of the company’s stock worth $221,000 after purchasing an additional 964 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

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.