Schrodinger (NASDAQ:SDGR) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Schrodinger from “strong sell” to “hold,” while the broader analyst consensus remains “Hold” with a $20.25 price target.
• Schrodinger reported better-than-expected quarterly results, posting $0.08 earnings per share versus expectations for a $0.41 loss and revenue of $58.89 million, up 7.5% year over year.
• Shares opened at $18.16, with a $1.34 billion market capitalization; institutional investors own approximately 79.05% of the stock, including a new $171 million position acquired by BlackRock.

Schrodinger (NASDAQ:SDGR - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "strong sell" rating to a "hold" rating in a report released on Saturday.

SDGR has been the subject of several other reports. Morgan Stanley decreased their price target on shares of Schrodinger from $19.00 to $17.00 and set an "equal weight" rating for the company in a research report on Thursday, May 14th. Weiss Ratings upgraded Schrodinger from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Schrodinger has a consensus rating of "Hold" and a consensus price target of $20.25.

Schrodinger Stock Up 2.0%

Shares of SDGR opened at $18.16 on Friday. The stock has a market cap of $1.34 billion, a PE ratio of -24.54 and a beta of 1.63. Schrodinger has a 12-month low of $10.94 and a 12-month high of $23.02. The business has a 50-day simple moving average of $15.69 and a two-hundred day simple moving average of $13.73.

Schrodinger (NASDAQ:SDGR - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.49. The company had revenue of $58.89 million for the quarter, compared to analysts' expectations of $47.19 million. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%.The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.65) earnings per share. On average, equities research analysts expect that Schrodinger will post -1.89 EPS for the current year.

Hedge Funds Weigh In On Schrodinger

A number of hedge funds have recently bought and sold shares of SDGR. BlackRock Inc. acquired a new position in Schrodinger in the second quarter valued at $170,978,000. Deutsche Bank AG bought a new stake in Schrodinger during the second quarter valued at $1,013,000. Bank of New York Mellon Corp acquired a new stake in Schrodinger during the 2nd quarter worth about $4,986,000. GAMMA Investing LLC grew its holdings in Schrodinger by 30.2% during the 2nd quarter. GAMMA Investing LLC now owns 13,581 shares of the company's stock worth $221,000 after acquiring an additional 3,147 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Schrodinger by 11.4% in the 1st quarter. Bank of America Corp DE now owns 145,902 shares of the company's stock worth $1,657,000 after acquiring an additional 14,970 shares in the last quarter. Institutional investors own 79.05% of the company's stock.

Schrodinger Company Profile

Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.

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