SVB Leerink Initiates Coverage on Schrödinger (NASDAQ:SDGR)

Research analysts at SVB Leerink started coverage on shares of Schrödinger (NASDAQ:SDGR) in a report issued on Tuesday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $29.00 price target on the stock. SVB Leerink’s price objective would indicate a potential upside of 44.28% from the company’s previous close.

Several other analysts have also recently issued reports on the company. Citigroup dropped their target price on Schrödinger from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Craig Hallum dropped their target price on Schrödinger from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.70.

Schrödinger Price Performance

Shares of SDGR stock opened at $20.10 on Tuesday. The stock’s 50 day simple moving average is $21.78 and its two-hundred day simple moving average is $26.14. Schrödinger has a 1 year low of $18.21 and a 1 year high of $59.24. The company has a market cap of $1.46 billion, a PE ratio of -10.69 and a beta of 1.51.

Schrödinger (NASDAQ:SDGR) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.76) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.76). Schrödinger had a negative return on equity of 29.25% and a negative net margin of 75.94%. The company had revenue of $36.60 million for the quarter, compared to analysts’ expectations of $41.23 million. Equities research analysts expect that Schrödinger will post -2.7 EPS for the current year.

Institutional Trading of Schrödinger

Hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC lifted its holdings in shares of Schrödinger by 3,480.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,790 shares of the company’s stock valued at $64,000 after purchasing an additional 1,740 shares during the last quarter. GAMMA Investing LLC purchased a new position in Schrödinger in the 4th quarter worth $67,000. PNC Financial Services Group Inc. raised its stake in Schrödinger by 186.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock worth $76,000 after acquiring an additional 1,385 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in Schrödinger by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,244 shares of the company’s stock worth $152,000 after acquiring an additional 1,076 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Schrödinger in the 4th quarter worth $153,000. 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.