Schrödinger (NASDAQ:SDGR) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Schrödinger (NASDAQ:SDGR) had its price objective increased by BMO Capital Markets from $25.00 to $28.00 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Separately, Morgan Stanley reduced their price target on shares of Schrödinger from $43.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Schrödinger currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.90.

Schrödinger Trading Down 9.0 %

Shares of SDGR opened at $18.54 on Wednesday. Schrödinger has a one year low of $16.67 and a one year high of $38.00. The company’s fifty day moving average price is $18.72 and its 200 day moving average price is $20.35.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.52) EPS 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 return on equity of 35.77% and a negative net margin of 91.84%. The company’s revenue for the quarter was down 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.86) earnings per share. As a group, equities analysts predict that Schrödinger will post -2.29 EPS for the current year.

Insiders Place Their Bets

In other news, insider Margaret Dugan sold 1,531 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 13,469 shares of the company’s stock, valued at approximately $239,478.82. This represents a 10.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its holdings in shares of Schrödinger by 22.7% in the 1st 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 during the last quarter. Stephens Investment Management Group LLC increased its holdings in shares of Schrödinger by 39.6% during the third quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock worth $28,565,000 after buying an additional 436,789 shares in the last quarter. Millennium Management LLC raised its stake in shares of Schrödinger by 2,868.8% in the second quarter. Millennium Management LLC now owns 487,831 shares of the company’s stock valued at $9,435,000 after acquiring an additional 471,399 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Schrödinger by 7.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 500,461 shares of the company’s stock worth $9,679,000 after acquiring an additional 35,036 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in Schrödinger by 29.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 20,062 shares of the company’s stock worth $528,000 after acquiring an additional 4,510 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

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.