Schrodinger (NASDAQ:SDGR) Now Covered by Analysts at Barclays

Key Points

• Barclays has upgraded Schrodinger (NASDAQ: SDGR) to an "overweight" rating with a target price of $25.00, indicating a potential upside of 28.53% from its previous close.
• Schrodinger reported a quarterly revenue of $54.76 million, exceeding analysts' estimates, and had a negative earnings per share of ($0.59), which was better than expected.
• Institutional investors and hedge funds collectively own 79.05% of Schrodinger's stock, reflecting strong interest and confidence in the company among large financial entities.

Equities researchers at Barclays started coverage on shares of Schrodinger (NASDAQ:SDGR - Get Free Report) in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage set an "overweight" rating and a $25.00 price target on the stock. Barclays's target price points to a potential upside of 32.25% from the company's previous close.

Other analysts have also issued reports about the company. Citigroup lowered Schrodinger from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $35.00 to $20.00 in a report on Friday. Morgan Stanley assumed coverage on shares of Schrodinger in a report on Thursday, July 3rd. They set an "equal weight" rating and a $28.00 target price on the stock. Finally, KeyCorp reduced their target price on Schrodinger from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.33.

Schrodinger Stock Down 2.8%

Shares of NASDAQ SDGR traded down $0.55 during trading on Thursday, reaching $18.90. The company had a trading volume of 270,226 shares, compared to its average volume of 1,161,143. The company's fifty day moving average price is $21.24 and its 200-day moving average price is $22.39. Schrodinger has a 12 month low of $16.60 and a 12 month high of $28.47. The stock has a market cap of $1.39 billion, a P/E ratio of -7.68 and a beta of 1.67.

Schrodinger (NASDAQ:SDGR - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $54.76 million for the quarter, compared to the consensus estimate 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 was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.66) EPS. As a group, equities analysts predict that Schrodinger will post -2.37 earnings per share for the current year.

Institutional Trading of Schrodinger

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC increased 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 valued at $26,000 after acquiring an additional 997 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Schrodinger in the 4th quarter worth $27,000. Bayforest Capital Ltd bought a new stake in shares of Schrodinger in the 2nd quarter worth about $30,000. ANTIPODES PARTNERS Ltd bought a new position in Schrodinger during the 1st quarter valued at about $37,000. Finally, PNC Financial Services Group Inc. grew its stake in Schrodinger by 29.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company's stock worth $58,000 after acquiring an additional 680 shares in the last quarter. 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.