Morgan Stanley Initiates Coverage on Schrodinger (NASDAQ:SDGR)

Morgan Stanley began coverage on shares of Schrodinger (NASDAQ:SDGR - Free Report) in a report issued on Thursday morning. The firm issued an equal weight rating and a $28.00 price objective on the stock.

Separately, KeyCorp lifted their price objective on Schrodinger from $30.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th.

Schrodinger Price Performance

Shares of Schrodinger stock remained flat at $20.96 during trading hours on Thursday. The company's stock had a trading volume of 348,387 shares, compared to its average volume of 914,852. The business's 50 day moving average is $22.66 and its 200 day moving average is $22.34. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -7.97 and a beta of 1.58. Schrodinger has a 1-year low of $16.60 and a 1-year 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 analysts' consensus estimates of ($0.81) by ($0.01). Schrodinger had a negative net margin of 83.39% and a negative return on equity of 44.74%. The company had revenue of $59.55 million for the quarter, compared to analysts' expectations of $54.60 million. During the same period in the previous year, the firm earned ($0.86) earnings per share. The firm's quarterly revenue was up 62.7% on a year-over-year basis. On average, sell-side analysts expect that Schrodinger will post -2.37 EPS for the current year.

Insider Buying and Selling at Schrodinger

In related news, insider Karen Akinsanya sold 16,723 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $25.09, for a total value of $419,580.07. Following the transaction, the insider directly owned 15,625 shares of the company's stock, valued at approximately $392,031.25. The trade was a 51.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SDGR. Proficio Capital Partners LLC purchased a new position in Schrodinger in the 4th quarter worth approximately $218,000. Charles Schwab Investment Management Inc. lifted its holdings in Schrodinger by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 509,680 shares of the company's stock worth $9,832,000 after purchasing an additional 11,167 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Schrodinger in the 4th quarter worth approximately $325,000. Amundi lifted its holdings in Schrodinger by 197.7% in the 4th quarter. Amundi now owns 26,753 shares of the company's stock worth $544,000 after purchasing an additional 17,766 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Schrodinger by 1.2% during the 4th quarter. Swiss National Bank now owns 125,100 shares of the company's stock worth $2,413,000 after acquiring an additional 1,500 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Schrodinger Company Profile

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.