Schrödinger (NASDAQ:SDGR) Trading 3.4% Higher – Still a Buy?

Schrödinger, Inc. (NASDAQ:SDGR)’s stock price shot up 3.4% during trading on Tuesday . The stock traded as high as $19.64 and last traded at $19.46. 150,631 shares were traded during trading, a decline of 80% from the average session volume of 745,977 shares. The stock had previously closed at $18.82.

Analysts Set New Price Targets

Separately, BMO Capital Markets raised their price objective on Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.90.

Schrödinger Stock Up 2.5 %

The stock has a fifty day moving average price of $20.07 and a two-hundred day moving average price of $19.94. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -8.24 and a beta of 1.56.

Schrödinger (NASDAQ:SDGR) last released its earnings results on Tuesday, November 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). The firm had revenue of $35.30 million during the quarter, compared to analysts’ expectations of $41.25 million. Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. Schrödinger’s revenue for the quarter was down 17.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.86) earnings per share. As a group, research analysts forecast that Schrödinger, Inc. will post -2.29 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Schrödinger

Several hedge funds have recently modified their holdings of SDGR. Harbor Capital Advisors Inc. increased its stake in Schrödinger by 5.0% during the third quarter. Harbor Capital Advisors Inc. now owns 13,059 shares of the company’s stock worth $242,000 after acquiring an additional 622 shares during the last quarter. KBC Group NV increased its position in Schrödinger by 45.4% during the 3rd quarter. KBC Group NV now owns 2,508 shares of the company’s stock worth $47,000 after purchasing an additional 783 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in Schrödinger by 4.1% in the second quarter. Ensign Peak Advisors Inc now owns 23,893 shares of the company’s stock valued at $462,000 after buying an additional 950 shares during the period. Private Advisor Group LLC raised its holdings in Schrödinger by 20.5% in the third quarter. Private Advisor Group LLC now owns 12,150 shares of the company’s stock valued at $225,000 after buying an additional 2,065 shares during the period. Finally, Quarry LP lifted its position in Schrödinger by 1,150.0% during the third quarter. Quarry LP now owns 2,825 shares of the company’s stock valued at $52,000 after buying an additional 2,599 shares in 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.