Schrodinger (NASDAQ:SDGR) Price Target Raised to $36.00

Key Points

• TD Cowen raised its price target on Schrödinger to $36 from $31 and maintained a Buy rating, implying 23.63% upside from the prior close.
• Analyst views remain mixed: the stock has an average rating of Hold and a consensus price target of $26.67, below TD Cowen’s target.
• Schrödinger reported quarterly revenue of $64.49 million, up 18.7% year over year, and a loss of $0.50 per share—better than analysts’ estimates for both revenue and EPS.

Schrodinger (NASDAQ:SDGR - Get Free Report) had its price target lifted by TD Cowen from $31.00 to $36.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. TD Cowen's target price would indicate a potential upside of 23.63% from the company's previous close.

A number of other brokerages also recently issued reports on SDGR. BMO Capital Markets upped their price target on Schrodinger from $24.00 to $30.00 and gave the company an "outperform" rating in a report on Monday, October 12th. UBS Group lifted their target price on Schrodinger from $19.00 to $21.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 20th. KeyCorp lifted their target price on Schrodinger from $20.00 to $32.00 and gave the stock an "overweight" rating in a research report on Friday, October 16th. Wall Street Zen raised Schrodinger from a "strong sell" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Weiss Ratings raised Schrodinger from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 27th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $26.67.

Schrodinger Stock Up 2.1%

SDGR stock traded up $0.60 during midday trading on Thursday, hitting $29.12. The company's stock had a trading volume of 1,661,551 shares, compared to its average volume of 1,546,177. The firm has a market capitalization of $2.15 billion, a P/E ratio of -39.84 and a beta of 1.69. The firm has a 50-day simple moving average of $25.43 and a 200-day simple moving average of $16.95. Schrodinger has a 52-week low of $10.94 and a 52-week high of $33.78.

Schrodinger (NASDAQ:SDGR - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.50) EPS for the quarter, topping analysts' consensus estimates of ($0.67) by $0.17. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%. The business had revenue of $64.49 million during the quarter, compared to the consensus estimate of $47.73 million. During the same period in the previous year, the company posted ($0.45) earnings per share. The business's revenue for the quarter was up 18.7% on a year-over-year basis. On average, sell-side analysts expect that Schrodinger will post -1.50 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Karen Akinsanya sold 31,599 shares of the firm's stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $29.37, for a total value of $928,062.63. Following the completion of the sale, the insider owned 69,956 shares in the company, valued at approximately $2,054,607.72. This trade represents a 31.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.10% of the company's stock.

Institutional Trading of Schrodinger

Several hedge funds have recently modified their holdings of SDGR. Root Financial Partners LLC purchased a new stake in Schrodinger during the third quarter worth $50,000. Sterling Capital Management LLC grew its holdings in Schrodinger by 843.8% during the 3rd quarter. Sterling Capital Management LLC now owns 1,916 shares of the company's stock valued at $59,000 after buying an additional 1,713 shares during the last quarter. Allworth Financial LP purchased a new position in Schrodinger during the second quarter worth $86,000. PNC Financial Services Group Inc. increased its position in Schrodinger by 1,037.1% during the first quarter. PNC Financial Services Group Inc. now owns 7,778 shares of the company's stock worth $88,000 after buying an additional 7,094 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Schrodinger in the 2nd quarter valued at about $102,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Schrodinger Company Profile

Schrödinger, Inc develops computational software and services designed to support pharmaceutical, biotechnology and materials research. Its platform uses physics-based modeling, machine learning and other computational methods to help scientists analyze molecular interactions, design compounds and prioritize candidates for experimental testing.

The company's software offerings include tools for molecular modeling, quantum chemistry, molecular dynamics, virtual screening, property prediction and free-energy calculations.

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