Schrödinger (NASDAQ:SDGR) Shares Gap Up – Time to Buy?

Schrödinger, Inc. (NASDAQ:SDGR)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $19.54, but opened at $23.00. Schrödinger shares last traded at $22.31, with a volume of 756,520 shares changing hands.

Analyst Upgrades and Downgrades

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

Schrödinger Stock Down 0.7 %

The stock has a market capitalization of $1.61 billion, a P/E ratio of -9.44 and a beta of 1.50. The firm has a 50-day moving average of $18.77 and a 200 day moving average of $20.42.

Schrödinger (NASDAQ:SDGR) last posted its earnings results on Tuesday, November 12th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). The business had revenue of $35.30 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.86) EPS. Analysts predict that Schrödinger, Inc. will post -2.19 EPS for the current fiscal year.

Insider Transactions at Schrödinger

In related news, insider Margaret Dugan sold 1,531 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total value 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Schrödinger

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp raised its stake in shares of Schrödinger by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 47,869 shares of the company’s stock valued at $1,292,000 after acquiring an additional 626 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in Schrödinger by 2.7% in the 1st quarter. Illinois Municipal Retirement Fund now owns 32,043 shares of the company’s stock valued at $865,000 after purchasing an additional 831 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Schrödinger by 22.7% in the first quarter. Russell Investments Group Ltd. now owns 218,564 shares of the company’s stock worth $5,901,000 after purchasing an additional 40,434 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Schrödinger by 7.4% during the first quarter. ProShare Advisors LLC now owns 10,987 shares of the company’s stock worth $297,000 after purchasing an additional 753 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Schrödinger by 29.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 20,062 shares of the company’s stock valued at $528,000 after buying an additional 4,510 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Schrödinger Company Profile

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.