Schrödinger (NASDAQ:SDGR) was upgraded by Zacks Investment Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Thursday, Zacks.com reports. The firm presently has a $80.00 price target on the stock. Zacks Investment Research's price target suggests a potential upside of 12.26% from the company's current price.
According to Zacks, "Schrödinger Inc. provides computational platforms to accelerate drug discovery and materials design deployed by biopharmaceutical and industrial companies, academic institutions and government laboratories. Schrödinger Inc. is based in NEW YORK. "
Other analysts have also issued reports about the company. BMO Capital Markets dropped their price target on Schrödinger from $110.00 to $104.00 and set an "outperform" rating on the stock in a report on Wednesday, March 24th. Craig Hallum began coverage on Schrödinger in a research note on Tuesday, May 25th. They issued a "buy" rating and a $85.00 target price on the stock. Finally, Morgan Stanley lowered their target price on Schrödinger from $89.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 12th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. The stock presently has a consensus rating of "Buy" and an average price target of $83.50.
SDGR stock opened at $71.26 on Thursday. The firm has a 50 day moving average of $71.86. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of -395.87 and a beta of 1.01. Schrödinger has a twelve month low of $46.27 and a twelve month high of $117.00.
In other Schrödinger news, major shareholder David E. Shaw sold 25,000 shares of Schrödinger stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $60.31, for a total transaction of $1,507,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David E. Shaw sold 220,394 shares of Schrödinger stock in a transaction dated Friday, June 25th. The stock was sold at an average price of $77.99, for a total value of $17,188,528.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,083,428 shares of company stock valued at $79,183,494.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its stake in shares of Schrödinger by 23.6% in the 1st quarter. Lazard Asset Management LLC now owns 999 shares of the company's stock valued at $76,000 after acquiring an additional 191 shares during the last quarter. Arkadios Wealth Advisors raised its position in Schrödinger by 82.3% during the 1st quarter. Arkadios Wealth Advisors now owns 483 shares of the company's stock valued at $36,000 after purchasing an additional 218 shares during the last quarter. Arizona State Retirement System raised its position in Schrödinger by 2.1% during the 1st quarter. Arizona State Retirement System now owns 11,477 shares of the company's stock valued at $876,000 after purchasing an additional 231 shares during the last quarter. 9258 Wealth Management LLC raised its position in Schrödinger by 6.9% during the 1st quarter. 9258 Wealth Management LLC now owns 5,450 shares of the company's stock valued at $416,000 after purchasing an additional 350 shares during the last quarter. Finally, Stephens Inc. AR bought a new position in Schrödinger during the 1st quarter valued at approximately $29,000. 50.36% of the stock is owned by institutional investors.
SchrÃ¶dinger, Inc provides physics-based software platform that enables discovery of novel molecules for drug development and materials applications. The company operates through two segments, Software and Drug Discovery. The Software segment is focused on selling its software for drug discovery in the life sciences industry, as well as to customers in materials science industries.
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