BMO Capital Markets Lowers Schrödinger (NASDAQ:SDGR) Price Target to $25.00

Schrödinger (NASDAQ:SDGR) had its price objective lowered by BMO Capital Markets from $30.00 to $25.00 in a research report released on Thursday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other brokerages have also commented on SDGR. Morgan Stanley decreased their price target on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 21st. Leerink Partners assumed coverage on shares of Schrödinger in a report on Tuesday, July 2nd. They set an “outperform” rating and a $29.00 target price on the stock. Leerink Partnrs upgraded shares of Schrödinger to a “strong-buy” rating in a research note on Tuesday, July 2nd. Finally, KeyCorp reduced their price objective on Schrödinger from $30.00 to $25.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.60.

Schrödinger Stock Performance

Shares of SDGR stock opened at $17.80 on Thursday. Schrödinger has a fifty-two week low of $16.67 and a fifty-two week high of $38.00. The stock’s fifty day moving average is $19.31 and its two-hundred day moving average is $21.26. The firm has a market capitalization of $1.30 billion, a P/E ratio of -6.64 and a beta of 1.50.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.11. Schrödinger had a negative net margin of 100.42% and a negative return on equity of 38.38%. The firm had revenue of $47.33 million for the quarter, compared to the consensus estimate of $40.19 million. On average, equities analysts forecast that Schrödinger will post -2.19 earnings per share for the current year.

Insider Transactions at Schrödinger

In other Schrödinger news, insider Margaret Dugan sold 1,531 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $17.78, for a total value of $27,221.18. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of Schrödinger

Large investors have recently made changes to their positions in the company. Rubric Capital Management LP boosted 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 acquiring an additional 2,131,724 shares during the period. Millennium Management LLC raised its position in Schrödinger by 2,868.8% in the 2nd 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Schrödinger by 53.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,228,123 shares of the company’s stock worth $23,752,000 after purchasing an additional 427,594 shares during the period. Iron Triangle Partners LP grew its position in Schrödinger by 84.2% during the 1st quarter. Iron Triangle Partners LP now owns 863,323 shares of the company’s stock worth $23,310,000 after purchasing an additional 394,738 shares during the last quarter. Finally, Tocqueville Asset Management L.P. increased its stake in Schrödinger by 35.5% in the first quarter. Tocqueville Asset Management L.P. now owns 899,750 shares of the company’s stock valued at $24,293,000 after purchasing an additional 235,785 shares during the period. 79.05% of the stock is 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.