Schrodinger (NASDAQ:SDGR) Price Target Lowered to $28.00 at KeyCorp

Key Points

• KeyCorp has reduced its price target for Schrodinger (SDGR) from $30.00 to $28.00, maintaining an "overweight" rating, which suggests a potential upside of 38.89% from its last close.
• The company's stock has faced multiple downgrades from several analysts, including Citigroup, which cut their price target from $35.00 to $20.00.
• Institutional investors hold a significant 79.05% of Schrodinger's stock, indicating strong support from major financial entities as the stock experiences fluctuations.

Schrodinger (NASDAQ:SDGR - Get Free Report) had its price target dropped by research analysts at KeyCorp from $30.00 to $28.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's price objective indicates a potential upside of 38.89% from the stock's previous close.

Several other equities analysts also recently commented on SDGR. Weiss Ratings reissued a "sell (d-)" rating on shares of Schrodinger in a research report on Saturday, September 27th. Wall Street Zen lowered Schrodinger from a "hold" rating to a "sell" rating in a report on Saturday. Citigroup lowered Schrodinger from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $35.00 to $20.00 in a report on Friday, August 15th. Barclays started coverage on Schrodinger in a report on Thursday, August 14th. They set an "overweight" rating and a $25.00 price target on the stock. Finally, Morgan Stanley dropped their price target on shares of Schrodinger from $28.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $26.29.

Schrodinger Stock Down 5.3%

SDGR stock opened at $20.16 on Wednesday. The company has a 50-day simple moving average of $19.57 and a 200 day simple moving average of $21.37. The company has a market capitalization of $1.48 billion, a P/E ratio of -8.13 and a beta of 1.74. Schrodinger has a fifty-two week low of $16.60 and a fifty-two week high of $28.47.

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

Hedge Funds Weigh In On Schrodinger

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its holdings in Schrodinger by 347.4% during the second quarter. Farther Finance Advisors LLC now owns 1,284 shares of the company's stock valued at $26,000 after purchasing an additional 997 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Schrodinger in the 2nd quarter valued at $30,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of Schrodinger in the 1st quarter valued at $37,000. State of Wyoming acquired a new stake in Schrodinger during the 2nd quarter worth $39,000. Finally, PNC Financial Services Group Inc. grew its stake in Schrodinger by 29.9% in the first 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 period. Institutional investors own 79.05% of the company's stock.

Schrodinger 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.

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