Piper Sandler Issues Pessimistic Forecast for Schrödinger (NASDAQ:SDGR) Stock Price

Schrödinger (NASDAQ:SDGR) had its price target decreased by equities research analysts at Piper Sandler from $50.00 to $45.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 107.37% from the company’s previous close.

Other analysts also recently issued reports about the company. KeyCorp lifted their target price on Schrödinger from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. BMO Capital Markets raised their price target on shares of Schrödinger from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.56.

Schrödinger Price Performance

Schrödinger stock opened at $21.70 on Thursday. The firm has a market capitalization of $1.58 billion, a P/E ratio of -9.27 and a beta of 1.61. Schrödinger has a 1-year low of $16.67 and a 1-year high of $33.63. The company’s 50-day moving average is $22.23 and its 200 day moving average is $20.56.

Schrödinger (NASDAQ:SDGR) last released its earnings results on Wednesday, February 26th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.20). Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. Research analysts anticipate that Schrödinger will post -2.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Schrödinger

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. raised its position in shares of Schrödinger by 5.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,059 shares of the company’s stock worth $242,000 after acquiring an additional 622 shares in the last quarter. United Advisor Group LLC lifted its position in shares of Schrödinger by 3.3% during the fourth quarter. United Advisor Group LLC now owns 19,769 shares of the company’s stock valued at $381,000 after buying an additional 634 shares during the last quarter. KBC Group NV boosted its holdings in shares of Schrödinger by 45.4% in the 3rd quarter. KBC Group NV now owns 2,508 shares of the company’s stock valued at $47,000 after buying an additional 783 shares in the last quarter. Redwood Wealth Management Group LLC grew its position in shares of Schrödinger by 8.4% in the 4th quarter. Redwood Wealth Management Group LLC now owns 14,620 shares of the company’s stock worth $283,000 after buying an additional 1,132 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Schrödinger by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,643 shares of the company’s stock worth $610,000 after acquiring an additional 1,202 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors.

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.