Brokerages Set Schrödinger, Inc. (NASDAQ:SDGR) Price Target at $33.44

Shares of Schrödinger, Inc. (NASDAQ:SDGR) have received a consensus rating of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $33.44.

SDGR has been the topic of a number of research reports. Leerink Partnrs upgraded Schrödinger to a “strong-buy” rating in a research report on Tuesday, July 2nd. KeyCorp cut their target price on Schrödinger from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Leerink Partners assumed coverage on Schrödinger in a report on Tuesday, July 2nd. They set an “outperform” rating and a $29.00 target price on the stock. Finally, Morgan Stanley cut their target price on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Texas Permanent School Fund Corp lifted its stake in shares of Schrödinger by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 47,869 shares of the company’s stock valued at $1,292,000 after purchasing an additional 626 shares during the period. Louisiana State Employees Retirement System raised its stake in Schrödinger by 2.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 27,800 shares of the company’s stock worth $538,000 after buying an additional 700 shares during the period. GAMMA Investing LLC raised its stake in Schrödinger by 49.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,124 shares of the company’s stock worth $41,000 after buying an additional 703 shares during the period. ProShare Advisors LLC raised its stake in Schrödinger by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,987 shares of the company’s stock worth $297,000 after buying an additional 753 shares during the period. Finally, Illinois Municipal Retirement Fund raised its stake in Schrödinger by 2.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 32,043 shares of the company’s stock worth $865,000 after buying an additional 831 shares during the period. 79.05% of the stock is owned by institutional investors and hedge funds.

Schrödinger Stock Down 3.0 %

Shares of SDGR stock opened at $16.98 on Thursday. The firm has a market capitalization of $1.23 billion, a P/E ratio of -9.03 and a beta of 1.50. Schrödinger has a twelve month low of $16.93 and a twelve month high of $38.00. The stock’s fifty day simple moving average is $19.79 and its 200 day simple moving average is $21.80.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.11. The business had revenue of $47.33 million for the quarter, compared to analyst estimates of $40.19 million. Schrödinger had a negative return on equity of 38.38% and a negative net margin of 100.42%. As a group, equities research analysts expect that Schrödinger will post -2.19 EPS for the current fiscal year.

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.