Schrödinger (NASDAQ:SDGR) Announces Earnings Results

Schrödinger (NASDAQ:SDGR) posted its quarterly earnings data on Tuesday. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12), Zacks reports. The business had revenue of $35.30 million during the quarter, compared to the consensus estimate of $41.25 million. Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The business’s revenue for the quarter was down 17.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.86) EPS. Schrödinger updated its FY 2024 guidance to EPS.

Schrödinger Price Performance

SDGR stock traded up $0.57 during trading on Wednesday, reaching $22.82. 676,855 shares of the company were exchanged, compared to its average volume of 752,137. The company has a 50-day moving average of $18.73 and a two-hundred day moving average of $20.41. Schrödinger has a twelve month low of $16.67 and a twelve month high of $38.00.

Insider Buying and Selling

In related news, insider Margaret Dugan sold 1,531 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $17.78, for a total transaction of $27,221.18. Following the completion of the transaction, the insider now directly owns 13,469 shares in the company, valued at $239,478.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on SDGR. BMO Capital Markets boosted their price objective on shares of Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday. Morgan Stanley cut their price target on shares of Schrödinger from $43.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Schrödinger presently has an average rating of “Moderate Buy” and an average price target of $32.90.

Schrödinger 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.