Schrödinger (NASDAQ:SDGR) Releases Earnings Results, Misses Expectations By $0.12 EPS

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

Schrödinger Price Performance

Shares of SDGR opened at $20.37 on Friday. Schrödinger has a 1 year low of $16.67 and a 1 year high of $38.00. The stock’s fifty day moving average price is $18.76 and its two-hundred day moving average price is $20.42. The firm has a market cap of $1.48 billion, a PE ratio of -8.71 and a beta of 1.50.

Insider Buying and Selling

In other Schrödinger news, insider Margaret Dugan sold 1,531 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total transaction of $27,221.18. Following the sale, the insider now owns 13,469 shares in the company, valued at $239,478.82. This represents a 10.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SDGR shares. BMO Capital Markets lifted their price target on shares of Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley cut their price target on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 21st. Three 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 company’s stock. According to data from MarketBeat.com, Schrödinger has a consensus rating of “Moderate Buy” and an average target price of $32.90.

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.