Schrodinger (NASDAQ:SDGR) Hits New 12-Month High - Here's What Happened

Key Points

• Schrödinger shares reached a new 52-week high, trading as high as $30.62 and closing about 5.2% higher at $30.3950, with roughly 1.08 million shares traded.
• Recent quarterly results exceeded expectations: the company reported $0.08 in EPS versus a forecasted $0.41 loss and revenue of $58.89 million, up 7.5% year over year.
• Despite the stock’s rally, analysts maintain a consensus “Hold” rating with an average price target of $20.50, well below the current price; institutional investors own 79.05% of the company.

Schrodinger, Inc. (NASDAQ:SDGR - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $30.62 and last traded at $30.3950, with a volume of 1082149 shares. The stock had previously closed at $29.02.

Analyst Ratings Changes

SDGR has been the subject of several recent research reports. Wall Street Zen upgraded Schrodinger from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 8th. UBS Group began coverage on Schrodinger in a research report on Friday, August 14th. They set a "neutral" rating and a $19.00 price objective on the stock. Finally, Weiss Ratings raised Schrodinger from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 27th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Schrodinger presently has a consensus rating of "Hold" and an average target price of $20.50.

Schrodinger Stock Up 5.2%

The company's fifty day moving average price is $18.51 and its 200 day moving average price is $15.20. The company has a market capitalization of $2.25 billion, a P/E ratio of -41.24 and a beta of 1.69.

Schrodinger (NASDAQ:SDGR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.49. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%.The business had revenue of $58.89 million during the quarter, compared to analysts' expectations of $47.19 million. During the same period in the previous year, the company posted ($0.65) earnings per share. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. Research analysts predict that Schrodinger, Inc. will post -1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rubric Capital Management LP increased its stake in Schrodinger by 43.8% in the first quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company's stock valued at $68,160,000 after acquiring an additional 1,828,502 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Schrodinger in the 1st quarter valued at $1,978,000. Tejara Capital Ltd acquired a new stake in shares of Schrodinger in the 2nd quarter valued at $4,553,000. BlackRock Inc. bought a new position in shares of Schrodinger in the 2nd quarter valued at $170,978,000. Finally, Beacon Pointe Advisors LLC bought a new position in shares of Schrodinger in the 2nd quarter valued at $839,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Schrodinger Company Profile

Schrödinger, Inc develops computational software designed to accelerate drug discovery and materials science research. Its platform uses physics-based modeling, machine learning and related computational methods to help scientists analyze molecular structures, predict interactions and identify potential compounds for further development.

The company's software products support a range of research activities, including molecular modeling, virtual screening, structure-based drug design, free-energy calculations and collaborative data management.

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