Schrödinger (NASDAQ:SDGR) Price Target Cut to $45.00 by Analysts at Piper Sandler

Schrödinger (NASDAQ:SDGR) had its price target cut by Piper Sandler from $50.00 to $45.00 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

SDGR has been the subject of several other research reports. BMO Capital Markets boosted their target price on Schrödinger from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. KeyCorp boosted their price objective on shares of Schrödinger from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $32.29.

Schrödinger Trading Up 0.3 %

Shares of SDGR opened at $22.31 on Thursday. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -9.53 and a beta of 1.61. The firm’s fifty day simple moving average is $22.34 and its 200-day simple moving average is $20.60. Schrödinger has a twelve month low of $16.67 and a twelve month high of $29.15.

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

Hedge Funds Weigh In On Schrödinger

A number of institutional investors have recently modified their holdings of SDGR. Private Advisor Group LLC grew its position in Schrödinger by 20.5% during the 3rd quarter. Private Advisor Group LLC now owns 12,150 shares of the company’s stock worth $225,000 after purchasing an additional 2,065 shares during the last quarter. Stephens Investment Management Group LLC grew its holdings in shares of Schrödinger by 39.6% during the third quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock worth $28,565,000 after buying an additional 436,789 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Schrödinger by 5.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,059 shares of the company’s stock valued at $242,000 after acquiring an additional 622 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Schrödinger by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,191,054 shares of the company’s stock valued at $40,644,000 after acquiring an additional 29,920 shares during the last quarter. Finally, Pier 88 Investment Partners LLC raised its stake in Schrödinger by 83.6% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 77,130 shares of the company’s stock valued at $1,431,000 after acquiring an additional 35,120 shares during the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

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.