Schrodinger (NASDAQ:SDGR) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

• UBS Group raised Schrodinger’s price target from $19 to $21 but maintained a “neutral” rating, implying roughly 9.17% downside from the stock’s current price.
• Analyst sentiment is broadly positive, with Schrodinger holding a consensus “Moderate Buy” rating and an average price target of $25.83; TD Cowen and KeyCorp set higher targets of $31 and $32, respectively.
• Schrodinger exceeded quarterly expectations, reporting $0.08 in adjusted earnings per share versus a $0.41 loss estimate and revenue of $58.89 million, up 7.5% year over year, though the company remains unprofitable.

Schrodinger (NASDAQ:SDGR - Get Free Report) had its target price hoisted by investment analysts at UBS Group from $19.00 to $21.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's price objective points to a potential downside of 9.17% from the stock's current price.

SDGR has been the topic of a number of other research reports. Zacks Research raised Schrodinger from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. TD Cowen upped their target price on Schrodinger from $20.00 to $31.00 and gave the company a "buy" rating in a report on Tuesday, October 13th. Wall Street Zen raised Schrodinger from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings upgraded Schrodinger from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 27th. Finally, KeyCorp lifted their price target on Schrodinger from $20.00 to $32.00 and gave the stock an "overweight" rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.83.

Schrodinger Trading Up 2.3%

SDGR stock opened at $23.12 on Tuesday. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -31.24 and a beta of 1.62. Schrodinger has a 12 month low of $10.94 and a 12 month high of $33.78. The firm has a 50-day moving average of $23.66 and a two-hundred day moving average of $17.56.

Schrodinger (NASDAQ:SDGR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.49. The business had revenue of $58.89 million for the quarter, compared to analysts' expectations of $47.19 million. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.65) EPS. As a group, equities analysts forecast that Schrodinger will post -1.50 earnings per share for the current year.

Insider Buying and Selling at Schrodinger

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

Institutional Trading of Schrodinger

Several institutional investors have recently made changes to their positions in the company. Purpose Unlimited Inc. purchased a new position in shares of Schrodinger during the 4th quarter worth $47,000. Allworth Financial LP acquired a new stake in shares of Schrodinger during the 2nd quarter worth about $86,000. PNC Financial Services Group Inc. raised its holdings in Schrodinger by 1,037.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,778 shares of the company's stock valued at $88,000 after buying an additional 7,094 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Schrodinger in the 2nd quarter valued at about $102,000. Finally, Pictet Asset Management Holding SA purchased a new stake in Schrodinger in the 1st quarter valued at about $132,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

About Schrodinger

Schrödinger, Inc is a technology company that develops computational software for pharmaceutical and materials research. Its platform uses physics-based modeling, machine learning and other computational methods to help scientists design and optimize molecules, evaluate potential drug candidates and investigate material properties.

The company's software offerings include molecular modeling, simulation, predictive modeling and collaborative research tools, such as Maestro, Desmond, Jaguar, FEP+ and LiveDesign.

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