Schrodinger, Inc. (NASDAQ:SDGR) Given Average Rating of “Hold” by Brokerages

Schrodinger, Inc. (NASDAQ:SDGR) has been given a consensus recommendation of “Hold” by the nine analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $20.25.

Several brokerages have recently issued reports on SDGR. Morgan Stanley reduced their price target on Schrodinger from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, May 14th. Wall Street Zen lowered Schrodinger from a “hold” rating to a “strong sell” rating in a report on Saturday, May 9th. KeyCorp reduced their price target on Schrodinger from $25.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Finally, UBS Group reduced their price target on Schrodinger from $18.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th.

Insiders Place Their Bets

In related news, CEO Ramy Farid sold 43,000 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $12.33, for a total value of $530,190.00. Following the completion of the sale, the chief executive officer directly owned 330,824 shares in the company, valued at approximately $4,079,059.92. The trade was a 11.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 55,501 shares of company stock valued at $691,160. 10.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Schrodinger

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in Schrodinger by 11.4% in the 1st quarter. Bank of America Corp DE now owns 145,902 shares of the company’s stock worth $1,657,000 after purchasing an additional 14,970 shares during the last quarter. ADAR1 Capital Management LLC acquired a new stake in Schrodinger in the 1st quarter worth approximately $1,153,000. Royal Bank of Canada lifted its holdings in Schrodinger by 34.7% in the 1st quarter. Royal Bank of Canada now owns 69,464 shares of the company’s stock worth $790,000 after purchasing an additional 17,893 shares during the last quarter. Rubric Capital Management LP lifted its holdings in shares of Schrodinger by 43.8% during the first quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company’s stock worth $68,160,000 after buying an additional 1,828,502 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of Schrodinger during the first quarter worth approximately $1,978,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Schrodinger Price Performance

NASDAQ:SDGR opened at $13.30 on Friday. The stock has a market cap of $981.81 million, a PE ratio of -9.43 and a beta of 1.57. Schrodinger has a fifty-two week low of $10.94 and a fifty-two week high of $27.63. The stock’s 50-day moving average is $12.09 and its two-hundred day moving average is $14.67.

Schrodinger (NASDAQ:SDGR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.25). The firm had revenue of $58.59 million for the quarter, compared to analyst estimates of $47.57 million. Schrodinger had a negative net margin of 40.61% and a negative return on equity of 30.85%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.82) earnings per share. On average, equities research analysts anticipate that Schrodinger will post -1.89 earnings per share for the current year.

Schrodinger Company Profile

Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.