Schrödinger (NASDAQ:SDGR) Price Target Raised to $32.00 at KeyCorp

Schrödinger (NASDAQ:SDGR) had its target price boosted by KeyCorp from $30.00 to $32.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Separately, Piper Sandler lowered their price objective on shares of Schrödinger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $33.00.

Schrödinger Stock Down 1.5 %

Shares of Schrödinger stock opened at $25.21 on Wednesday. Schrödinger has a 12 month low of $16.60 and a 12 month high of $28.47. The stock has a market cap of $1.84 billion, a PE ratio of -10.77 and a beta of 1.77. The business has a fifty day simple moving average of $21.98 and a 200-day simple moving average of $20.87.

Schrödinger (NASDAQ:SDGR) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.20). The business had revenue of $88.32 million during the quarter, compared to analysts’ expectations of $83.20 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. Analysts expect that Schrödinger will post -2.37 EPS for the current fiscal year.

Insider Activity at Schrödinger

In other Schrödinger news, insider Karen Akinsanya sold 16,723 shares of the business’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $25.09, for a total value of $419,580.07. Following the completion of the sale, the insider now owns 15,625 shares of the company’s stock, valued at $392,031.25. The trade was a 51.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Geoffrey Craig Porges sold 5,491 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $21.76, for a total value of $119,484.16. Following the sale, the chief financial officer now owns 27,544 shares of the company’s stock, valued at approximately $599,357.44. This trade represents a 16.62 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Schrödinger

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. grew its holdings in Schrödinger by 60.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company’s stock valued at $67,718,000 after purchasing an additional 1,319,464 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its holdings in shares of Schrödinger by 108.7% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company’s stock worth $47,499,000 after buying an additional 1,283,949 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Schrödinger by 17.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,279,313 shares of the company’s stock valued at $43,968,000 after buying an additional 334,131 shares during the last quarter. Millennium Management LLC raised its holdings in Schrödinger by 42.3% in the 4th quarter. Millennium Management LLC now owns 761,653 shares of the company’s stock worth $14,692,000 after acquiring an additional 226,536 shares during the period. Finally, GAMMA Investing LLC lifted its position in Schrödinger by 4,213.0% during the 1st quarter. GAMMA Investing LLC now owns 120,592 shares of the company’s stock worth $2,380,000 after acquiring an additional 117,796 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

About Schrödinger

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.