Schrodinger (NASDAQ:SDGR) Stock Rating Upgraded by The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has upgraded Schrodinger's stock rating to a hold, indicating a shift in investor sentiment.
• Schrodinger reported a 15.7% year-over-year revenue increase, with earnings per share beating analyst expectations, although still negative at ($0.59).
• Currently, Schrodinger has a consensus rating of Moderate Buy from analysts, with an average price target of $26.57.

Schrodinger (NASDAQ:SDGR - Get Free Report) was upgraded by equities research analysts at The Goldman Sachs Group to a "hold" rating in a report released on Monday,Zacks.com reports.

A number of other analysts have also recently weighed in on the company. Barclays initiated coverage on Schrodinger in a research note on Thursday, August 14th. They issued an "overweight" rating and a $25.00 price target on the stock. Citigroup cut 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 research note on Friday, August 15th. Morgan Stanley cut their target price on Schrodinger from $28.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. Wall Street Zen upgraded Schrodinger from a "sell" rating to a "hold" rating in a research report on Friday, September 26th. Finally, KeyCorp cut their target price on Schrodinger from $32.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $26.57.

Schrodinger Trading Up 0.1%

NASDAQ:SDGR opened at $20.06 on Monday. The firm has a market cap of $1.48 billion, a PE ratio of -8.09 and a beta of 1.79. The stock has a fifty day moving average price of $19.70 and a 200 day moving average price of $21.43. 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) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.83) by $0.24. The firm had revenue of $54.76 million during the quarter, compared to analyst estimates of $52.03 million. Schrodinger had a negative return on equity of 45.70% and a negative net margin of 76.22%.Schrodinger's revenue was up 15.7% compared to the same quarter last year. During the same period last year, the business posted ($0.66) earnings per share. Equities analysts forecast that Schrodinger will post -2.37 EPS for the current year.

Hedge Funds Weigh In On Schrodinger

Several institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming acquired a new position in Schrodinger in the 2nd quarter valued at about $39,000. Geneos Wealth Management Inc. increased its position in Schrodinger by 18.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 100,329 shares of the company's stock valued at $2,019,000 after acquiring an additional 15,386 shares during the period. Nikko Asset Management Americas Inc. increased its position in Schrodinger by 7.2% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,591,492 shares of the company's stock valued at $52,089,000 after acquiring an additional 174,684 shares during the period. Public Sector Pension Investment Board increased its position in Schrodinger by 8.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 190,431 shares of the company's stock valued at $3,831,000 after acquiring an additional 14,671 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Schrodinger by 59.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,380 shares of the company's stock valued at $289,000 after acquiring an additional 5,364 shares during the period. Institutional investors and hedge funds 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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