Schrödinger, Inc. (NASDAQ:SDGR) Receives Average Recommendation of “Moderate Buy” from Analysts

Schrödinger, Inc. (NASDAQ:SDGR) has received an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $35.78.

Several analysts recently weighed in on SDGR shares. Leerink Partnrs upgraded Schrödinger to a “strong-buy” rating in a report on Tuesday, July 2nd. SVB Leerink started coverage on Schrödinger in a report on Tuesday, July 2nd. They set an “outperform” rating and a $29.00 price target on the stock. Citigroup decreased 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. KeyCorp decreased their price target on Schrödinger from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Finally, Craig Hallum reduced their target price on Schrödinger from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd.

Hedge Funds Weigh In On Schrödinger

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Schrödinger by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 6,809,024 shares of the company’s stock worth $183,844,000 after buying an additional 32,393 shares in the last quarter. Rubric Capital Management LP grew its position in shares of Schrödinger by 213.5% during the 2nd quarter. Rubric Capital Management LP now owns 3,130,000 shares of the company’s stock worth $60,534,000 after buying an additional 2,131,724 shares in the last quarter. Baillie Gifford & Co. grew its position in shares of Schrödinger by 0.4% during the 1st quarter. Baillie Gifford & Co. now owns 2,612,007 shares of the company’s stock worth $70,524,000 after buying an additional 9,618 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Schrödinger by 60.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,300,750 shares of the company’s stock worth $82,367,000 after buying an additional 865,867 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Schrödinger by 53.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,228,123 shares of the company’s stock worth $23,752,000 after buying an additional 427,594 shares in the last quarter. Institutional investors own 79.05% of the company’s stock.

Schrödinger Stock Performance

NASDAQ:SDGR opened at $20.48 on Wednesday. The stock’s fifty day moving average is $20.60 and its 200 day moving average is $23.76. Schrödinger has a fifty-two week low of $18.02 and a fifty-two week high of $39.12. The firm has a market capitalization of $1.49 billion, a PE ratio of -10.89 and a beta of 1.51.

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.