Schrodinger (NASDAQ:SDGR) Price Target Cut to $30.00 by Analysts at KeyCorp

Schrodinger (NASDAQ:SDGR - Free Report) had its target price lowered by KeyCorp from $32.00 to $30.00 in a report released on Monday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Separately, Morgan Stanley started coverage on Schrodinger in a research report on Thursday, July 3rd. They set an "equal weight" rating and a $28.00 price objective on the stock.

Schrodinger Trading Down 3.6%

SDGR stock traded down $0.77 during trading hours on Monday, hitting $20.37. 1,082,395 shares of the stock were exchanged, compared to its average volume of 921,806. The firm has a market capitalization of $1.49 billion, a P/E ratio of -7.75 and a beta of 1.58. The company has a 50-day simple moving average of $22.08 and a two-hundred day simple moving average of $22.39. Schrodinger has a 12 month low of $16.60 and a 12 month high of $28.47.

Schrodinger (NASDAQ:SDGR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.01). The firm had revenue of $59.55 million for the quarter, compared to the consensus estimate of $54.60 million. Schrodinger had a negative return on equity of 44.74% and a negative net margin of 83.39%. The firm's quarterly revenue was up 62.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.86) EPS. On average, equities research analysts predict that Schrodinger will post -2.37 earnings per share for the current year.

Institutional Trading of Schrodinger

Large investors have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in Schrodinger in the fourth quarter valued at about $325,000. Two Sigma Advisers LP acquired a new stake in shares of Schrodinger during the fourth quarter valued at about $473,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Schrodinger by 30.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 174,371 shares of the company's stock valued at $3,442,000 after purchasing an additional 40,568 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Schrodinger by 118.5% during the first quarter. GAMMA Investing LLC now owns 6,109 shares of the company's stock valued at $121,000 after purchasing an additional 3,313 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Schrodinger during the fourth quarter valued at about $330,000. 79.05% of the stock is owned by institutional investors and hedge funds.

About Schrodinger

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.