Schrödinger (NASDAQ:SDGR) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Schrödinger (NASDAQ:SDGR) had its price target hoisted by BMO Capital Markets from $25.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 37.46% from the company’s previous close.

Separately, Morgan Stanley lowered their target price on shares of Schrödinger from $43.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.90.

Schrödinger Price Performance

Shares of NASDAQ SDGR opened at $20.37 on Wednesday. Schrödinger has a 1-year low of $16.67 and a 1-year high of $38.00. The business has a fifty day moving average price of $18.76 and a 200 day moving average price of $20.42. The stock has a market capitalization of $1.48 billion, a P/E ratio of -8.71 and a beta of 1.50.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.12). Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The firm had revenue of $35.30 million for the quarter, compared to analysts’ expectations of $41.25 million. During the same period in the previous year, the company posted ($0.86) earnings per share. The business’s quarterly revenue was down 17.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Schrödinger will post -2.19 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Margaret Dugan sold 1,531 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $17.78, for a total value of $27,221.18. Following the transaction, the insider now owns 13,469 shares in the company, valued at approximately $239,478.82. This represents a 10.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of Schrödinger

Several institutional investors and hedge funds have recently bought and sold shares of SDGR. Texas Permanent School Fund Corp raised its holdings in shares of Schrödinger by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 47,869 shares of the company’s stock worth $1,292,000 after purchasing an additional 626 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Schrödinger by 2.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 32,043 shares of the company’s stock valued at $865,000 after buying an additional 831 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Schrödinger by 22.7% in the 1st quarter. Russell Investments Group Ltd. now owns 218,564 shares of the company’s stock valued at $5,901,000 after buying an additional 40,434 shares during the period. ProShare Advisors LLC boosted its stake in shares of Schrödinger by 7.4% in the first quarter. ProShare Advisors LLC now owns 10,987 shares of the company’s stock worth $297,000 after buying an additional 753 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in Schrödinger by 29.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 20,062 shares of the company’s stock worth $528,000 after acquiring an additional 4,510 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.