Brokerages Set Schrödinger, Inc. (NASDAQ:SDGR) Price Target at $40.89

Shares of Schrödinger, Inc. (NASDAQ:SDGR) have received a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $40.89.

Several analysts have recently weighed in on SDGR shares. Citigroup dropped their price target on shares of Schrödinger from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Craig Hallum dropped their price target on shares of Schrödinger from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd.

Hedge Funds Weigh In On Schrödinger

A number of hedge funds have recently made changes to their positions in SDGR. International Assets Investment Management LLC boosted its position 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 worth $64,000 after purchasing an additional 1,740 shares during the period. GAMMA Investing LLC purchased a new position in shares of Schrödinger during the 4th quarter worth approximately $67,000. PNC Financial Services Group Inc. boosted its position in shares of Schrödinger by 186.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock worth $76,000 after purchasing an additional 1,385 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Schrödinger by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,244 shares of the company’s stock worth $152,000 after purchasing an additional 1,076 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Schrödinger during the 4th quarter worth approximately $153,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Schrödinger Trading Down 3.0 %

SDGR stock opened at $18.76 on Tuesday. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -9.98 and a beta of 1.53. Schrödinger has a 12 month low of $18.21 and a 12 month high of $59.24. The firm has a 50-day moving average of $21.94 and a two-hundred day moving average of $26.29.

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

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.