Schrödinger (NASDAQ:SDGR) Coverage Initiated at SVB Leerink

SVB Leerink began coverage on shares of Schrödinger (NASDAQ:SDGR) in a research note issued to investors on Tuesday morning, Marketbeat reports. The firm issued an outperform rating and a $29.00 price objective on the stock.

Other equities analysts have also issued research reports about the company. Craig Hallum lowered their price target on Schrödinger from $35.00 to $30.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Citigroup lowered their price target on Schrödinger from $39.00 to $37.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Three equities research 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $39.70.

Schrödinger Stock Performance

SDGR opened at $20.10 on Tuesday. The business’s 50-day simple moving average is $21.71 and its 200-day simple moving average is $26.10. Schrödinger has a one year low of $18.21 and a one year high of $59.24. The stock has a market capitalization of $1.46 billion, a P/E ratio of -10.69 and a beta of 1.51.

Schrödinger (NASDAQ:SDGR) last posted its earnings results on Wednesday, May 1st. The company reported ($0.76) EPS for the quarter, hitting analysts’ consensus estimates of ($0.76). Schrödinger had a negative return on equity of 29.25% and a negative net margin of 75.94%. The business had revenue of $36.60 million for the quarter, compared to analysts’ expectations of $41.23 million. On average, equities research analysts forecast that Schrödinger will post -2.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Schrödinger

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Schrödinger by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 6,809,024 shares of the company’s stock valued at $183,844,000 after purchasing an additional 32,393 shares in the last quarter. ARK Investment Management LLC boosted its holdings in Schrödinger by 7.7% in the 4th quarter. ARK Investment Management LLC now owns 3,053,521 shares of the company’s stock valued at $109,316,000 after purchasing an additional 217,618 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in Schrödinger by 0.4% in the 1st quarter. Baillie Gifford & Co. now owns 2,612,007 shares of the company’s stock valued at $70,524,000 after purchasing an additional 9,618 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Schrödinger by 60.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,300,750 shares of the company’s stock valued at $82,367,000 after purchasing an additional 865,867 shares in the last quarter. Finally, Tocqueville Asset Management L.P. boosted its holdings in Schrödinger by 35.5% in the 1st quarter. Tocqueville Asset Management L.P. now owns 899,750 shares of the company’s stock valued at $24,293,000 after purchasing an additional 235,785 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.