Schrödinger (NASDAQ:SDGR) Given New $28.00 Price Target at BMO Capital Markets

Schrödinger (NASDAQ:SDGR) had its target price boosted by BMO Capital Markets from $25.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Separately, Morgan Stanley decreased their price target on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating for the company in a research note 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.90.

Schrödinger Price Performance

SDGR opened at $18.54 on Wednesday. Schrödinger has a 12 month low of $16.67 and a 12 month high of $38.00. The stock has a market cap of $1.35 billion, a P/E ratio of -7.92 and a beta of 1.50. The stock’s 50 day moving average price is $18.72 and its 200 day moving average price is $20.38.

Schrödinger (NASDAQ:SDGR) last posted its earnings results on Tuesday, November 12th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.12). The business had revenue of $35.30 million during the quarter, compared to analyst estimates of $41.25 million. Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The firm’s revenue was down 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.86) earnings per share. Equities analysts anticipate that Schrödinger will post -2.19 EPS for the current year.

Insider Transactions at Schrödinger

In other 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 value of $27,221.18. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of Schrödinger

A number of hedge funds have recently modified their holdings of SDGR. Rubric Capital Management LP lifted its holdings in shares of Schrödinger by 213.5% in the second quarter. Rubric Capital Management LP now owns 3,130,000 shares of the company’s stock valued at $60,534,000 after purchasing an additional 2,131,724 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Schrödinger by 58.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,945,182 shares of the company’s stock valued at $36,083,000 after purchasing an additional 717,059 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Schrödinger by 2,868.8% in the second quarter. Millennium Management LLC now owns 487,831 shares of the company’s stock valued at $9,435,000 after purchasing an additional 471,399 shares in the last quarter. Stephens Investment Management Group LLC lifted its holdings in shares of Schrödinger by 39.6% in the third quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock valued at $28,565,000 after purchasing an additional 436,789 shares in the last quarter. Finally, Iron Triangle Partners LP raised its holdings in shares of Schrödinger by 84.2% during the first quarter. Iron Triangle Partners LP now owns 863,323 shares of the company’s stock worth $23,310,000 after acquiring an additional 394,738 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

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.