Analysts Set Schrodinger, Inc. (NASDAQ:SDGR) Price Target at $27.83

Key Points

• Schrodinger, Inc. has received a consensus recommendation of "Moderate Buy" from six analysts, with four buy recommendations and two holds.
• The company's recent earnings report showed a 15.7% year-over-year increase in revenue, with an EPS of ($0.59), surpassing expectations.
• Institutional investors hold 79.05% of Schrodinger's stock, indicating strong backing from the investment community.

Schrodinger, Inc. (NASDAQ:SDGR - Get Free Report) has been given an average rating of "Moderate Buy" by the six ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $27.8333.

Several analysts have issued reports on the company. Citigroup lowered Schrodinger from a "buy" rating to a "neutral" rating and cut their price target for the company from $35.00 to $20.00 in a report on Friday, August 15th. Morgan Stanley cut their price target on Schrodinger from $28.00 to $19.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Barclays assumed coverage on Schrodinger in a report on Thursday, August 14th. They set an "overweight" rating and a $25.00 price target for the company. Wall Street Zen lowered Schrodinger from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Finally, KeyCorp lowered their price objective on Schrodinger from $32.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th.

Schrodinger Price Performance

Schrodinger stock traded down $1.31 during trading hours on Tuesday, reaching $18.15. The company had a trading volume of 1,364,909 shares, compared to its average volume of 1,151,687. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -7.32 and a beta of 1.79. The company has a 50-day moving average price of $20.31 and a 200 day moving average price of $21.66. Schrodinger has a 12-month low of $16.60 and a 12-month high of $28.47.

Schrodinger (NASDAQ:SDGR - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.59) EPS for the quarter, beating analysts' consensus estimates of ($0.83) by $0.24. The company had revenue of $54.76 million during the quarter, compared to analysts' expectations of $52.03 million. Schrodinger had a negative return on equity of 45.70% and a negative net margin of 76.22%.The firm's revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.66) EPS. As a group, research analysts expect that Schrodinger will post -2.37 earnings per share for the current year.

Institutional Investors Weigh In On Schrodinger

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Advisers LP bought a new stake in Schrodinger during the 4th quarter valued at $473,000. Allspring Global Investments Holdings LLC boosted its position in Schrodinger by 30.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 174,371 shares of the company's stock valued at $3,442,000 after acquiring an additional 40,568 shares in the last quarter. GAMMA Investing LLC boosted its position in Schrodinger by 118.5% during the 1st quarter. GAMMA Investing LLC now owns 6,109 shares of the company's stock valued at $121,000 after acquiring an additional 3,313 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Schrodinger during the 4th quarter valued at $330,000. Finally, Two Sigma Investments LP bought a new stake in Schrodinger during the 4th quarter valued at $1,939,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

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.