Schrödinger (NASDAQ:SDGR) Price Target Lowered to $37.00 at Citigroup

Schrödinger (NASDAQ:SDGR - Get Free Report) had its price target lowered by analysts at Citigroup from $39.00 to $37.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price would indicate a potential upside of 59.55% from the company's current price.

Several other analysts also recently weighed in on SDGR. TD Cowen initiated coverage on Schrödinger in a research report on Friday, January 26th. They issued an "outperform" rating and a $42.00 price objective for the company. KeyCorp lowered their price target on shares of Schrödinger from $38.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, February 29th. Bank of America cut their price target on shares of Schrödinger from $38.00 to $32.00 and set a "neutral" rating on the stock in a report on Thursday, February 29th. Piper Sandler lowered their price objective on shares of Schrödinger from $60.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group cut their target price on Schrödinger from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.80.

Schrödinger Trading Down 8.2 %

Shares of SDGR traded down $2.07 during mid-day trading on Thursday, reaching $23.19. The company's stock had a trading volume of 2,818,190 shares, compared to its average volume of 870,768. Schrödinger has a 52 week low of $20.76 and a 52 week high of $59.24. The company's fifty day moving average price is $26.39 and its two-hundred day moving average price is $28.27. The stock has a market cap of $1.68 billion, a PE ratio of 36.81 and a beta of 1.58.

Schrödinger (NASDAQ:SDGR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.12. Schrödinger had a net margin of 18.79% and a negative return on equity of 23.58%. The business had revenue of $74.10 million during the quarter, compared to the consensus estimate of $79.12 million. During the same period in the previous year, the firm posted ($0.39) earnings per share. The firm's revenue for the quarter was up 30.5% on a year-over-year basis. Research analysts anticipate that Schrödinger will post -2.73 EPS for the current year.

Insider Activity

In other Schrödinger news, insider Robert Lorne Abel sold 1,205 shares of Schrödinger stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $27.55, for a total transaction of $33,197.75. Following the sale, the insider now directly owns 9,340 shares of the company's stock, valued at approximately $257,317. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Kenneth Patrick Lorton sold 901 shares of the business's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $28.29, for a total transaction of $25,489.29. Following the sale, the chief operating officer now owns 36,487 shares in the company, valued at approximately $1,032,217.23. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert Lorne Abel sold 1,205 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $27.55, for a total transaction of $33,197.75. Following the completion of the transaction, the insider now owns 9,340 shares of the company's stock, valued at $257,317. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,651 shares of company stock valued at $102,395. Corporate insiders own 7.60% of the company's stock.

Institutional Investors Weigh In On Schrödinger

Several hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC lifted its holdings in shares of Schrödinger by 23.4% during the third quarter. SG Americas Securities LLC now owns 4,728 shares of the company's stock valued at $134,000 after purchasing an additional 896 shares during the last quarter. Raymond James & Associates bought a new stake in Schrödinger in the third quarter worth $333,000. New York State Teachers Retirement System grew its stake in shares of Schrödinger by 29.3% in the third quarter. New York State Teachers Retirement System now owns 46,300 shares of the company's stock worth $1,309,000 after acquiring an additional 10,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Schrödinger by 12.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,016 shares of the company's stock valued at $453,000 after acquiring an additional 1,791 shares in the last quarter. Finally, Strs Ohio increased its holdings in shares of Schrödinger by 800.0% during the third quarter. Strs Ohio now owns 9,000 shares of the company's stock valued at $254,000 after acquiring an additional 8,000 shares in the last quarter. Institutional investors own 79.05% of the company's stock.

Schrödinger 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.