Schrodinger (NASDAQ:SDGR) Shares Gap Up on Better-Than-Expected Earnings

Shares of Schrodinger, Inc. (NASDAQ:SDGR) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $11.80, but opened at $13.00. Schrodinger shares last traded at $12.40, with a volume of 706,638 shares traded.

The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.57. The company had revenue of $87.24 million during the quarter, compared to the consensus estimate of $83.66 million. Schrodinger had a negative net margin of 68.49% and a negative return on equity of 48.24%. During the same quarter in the previous year, the company posted ($0.24) earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year.

Wall Street Analyst Weigh In

SDGR has been the topic of several analyst reports. TD Cowen restated a “buy” rating on shares of Schrodinger in a research note on Thursday, January 8th. KeyCorp decreased their price objective on Schrodinger from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, January 8th. Bank of America raised Schrodinger from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Monday, December 15th. UBS Group started coverage on Schrodinger in a research report on Wednesday, January 7th. They set a “neutral” rating and a $18.00 price target for the company. Finally, Wall Street Zen raised Schrodinger from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Schrodinger has an average rating of “Hold” and a consensus price target of $24.33.

Hedge Funds Weigh In On Schrodinger

Large investors have recently made changes to their positions in the business. Amalgamated Bank boosted its holdings in Schrodinger by 3.9% during the third quarter. Amalgamated Bank now owns 16,411 shares of the company’s stock worth $329,000 after buying an additional 623 shares in the last quarter. Verity Asset Management Inc. lifted its position in shares of Schrodinger by 1.2% during the 4th quarter. Verity Asset Management Inc. now owns 65,722 shares of the company’s stock valued at $1,175,000 after acquiring an additional 798 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Schrodinger by 5.8% during the 2nd quarter. Bank of Montreal Can now owns 15,941 shares of the company’s stock worth $321,000 after acquiring an additional 879 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Schrodinger by 6.3% during the 4th quarter. Handelsbanken Fonder AB now owns 15,200 shares of the company’s stock worth $272,000 after acquiring an additional 900 shares in the last quarter. Finally, Stephens Inc. AR grew its holdings in shares of Schrodinger by 9.5% in the 3rd quarter. Stephens Inc. AR now owns 10,894 shares of the company’s stock worth $219,000 after acquiring an additional 944 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.

Schrodinger Stock Up 3.3%

The company has a market capitalization of $897.89 million, a price-to-earnings ratio of -5.09 and a beta of 1.57. The business has a 50-day moving average price of $15.57 and a 200-day moving average price of $17.91.

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.