Schrodinger, Inc. (NASDAQ:SDGR) Receives $31.20 Consensus PT from Analysts

Key Points

• Schrodinger, Inc. has received a consensus rating of "Moderate Buy" from six brokerages, with two holding the stock and four issuing buy ratings. The average one-year price target is $31.20.
• Recently, Citigroup downgraded Schrodinger from "buy" to "neutral," while Barclays set a target price of $25.00 after assuming coverage.
• The company reported a quarterly EPS of ($0.59), beating the consensus estimate of ($0.83), with revenues of $54.76 million, a 15.7% increase from the previous year.

Schrodinger, Inc. (NASDAQ:SDGR - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $29.3333.

SDGR has been the topic of a number of recent research reports. Citigroup cut shares of Schrodinger from a "buy" rating to a "neutral" rating and cut their target price for the stock from $35.00 to $20.00 in a report on Friday. Barclays started coverage on shares of Schrodinger in a report on Thursday. They issued an "overweight" rating and a $25.00 target price on the stock. Morgan Stanley started coverage on shares of Schrodinger in a report on Thursday, July 3rd. They issued an "equal weight" rating and a $28.00 target price on the stock. Finally, KeyCorp cut their target price on shares of Schrodinger from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, July 14th.

Hedge Funds Weigh In On Schrodinger

Institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in shares of Schrodinger by 347.4% during the second quarter. Farther Finance Advisors LLC now owns 1,284 shares of the company's stock worth $26,000 after acquiring an additional 997 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Schrodinger in the 4th quarter valued at about $27,000. Bayforest Capital Ltd bought a new position in Schrodinger in the 2nd quarter valued at about $30,000. ANTIPODES PARTNERS Ltd bought a new position in Schrodinger in the 1st quarter valued at about $37,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Schrodinger by 29.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company's stock valued at $58,000 after acquiring an additional 680 shares during the last quarter. Institutional investors own 79.05% of the company's stock.

Schrodinger Price Performance

SDGR traded down $0.07 during trading on Friday, hitting $19.38. The company had a trading volume of 2,115,091 shares, compared to its average volume of 1,384,335. The company has a market cap of $1.42 billion, a PE ratio of -7.81 and a beta of 1.67. The business has a 50-day moving average of $21.14 and a 200-day moving average of $22.33. 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 results on Wednesday, August 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.83) by $0.24. Schrodinger had a negative net margin of 76.22% and a negative return on equity of 45.70%. The company had revenue of $54.76 million for the quarter, compared to the consensus estimate of $52.03 million. During the same period last year, the firm posted ($0.66) EPS. The company's revenue for the quarter was up 15.7% on a year-over-year basis. Research analysts forecast that Schrodinger will post -2.37 earnings per share for the current year.

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.