Schrödinger (NASDAQ:SDGR) Releases Earnings Results, Misses Expectations By $0.12 EPS

Schrödinger (NASDAQ:SDGR) announced its quarterly earnings results on Tuesday. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12), Zacks reports. The firm had revenue of $35.30 million during the quarter, compared to analyst estimates of $41.25 million. Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The business’s revenue was down 17.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.86) earnings per share. Schrödinger updated its FY 2024 guidance to EPS.

Schrödinger Trading Up 2.7 %

Shares of SDGR traded up $0.61 on Wednesday, reaching $22.86. The stock had a trading volume of 527,496 shares, compared to its average volume of 751,652. The company has a 50-day simple moving average of $18.73 and a 200-day simple moving average of $20.41. Schrödinger has a 12-month low of $16.67 and a 12-month high of $38.00.

Insiders Place Their Bets

In related news, insider Margaret Dugan sold 1,531 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $17.78, for a total transaction of $27,221.18. Following the sale, the insider now owns 13,469 shares of the company’s stock, valued at $239,478.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price target on shares of Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley dropped their target price on shares of Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Schrödinger presently has a consensus rating of “Moderate Buy” and an average price target of $32.90.

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.