Schrödinger (NASDAQ:SDGR) Coverage Initiated at SVB Leerink

SVB Leerink began coverage on shares of Schrödinger (NASDAQ:SDGR) in a research note published on Tuesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $29.00 price target on the stock.

Several other research analysts have also recently issued reports on the company. Citigroup dropped their price objective on Schrödinger from $39.00 to $37.00 and set a buy rating on the stock in a research note on Thursday, May 2nd. Craig Hallum lowered their target price on Schrödinger from $35.00 to $30.00 and set a buy rating for the company in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $39.70.

Schrödinger Stock Up 8.4 %

Shares of NASDAQ:SDGR opened at $20.33 on Tuesday. Schrödinger has a 52-week low of $18.21 and a 52-week high of $59.24. The stock has a market cap of $1.48 billion, a P/E ratio of -10.81 and a beta of 1.51. The business’s 50 day moving average is $21.85 and its 200 day moving average is $26.19.

Schrödinger (NASDAQ:SDGR) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.76) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.76). Schrödinger had a negative return on equity of 29.25% and a negative net margin of 75.94%. The company had revenue of $36.60 million for the quarter, compared to analysts’ expectations of $41.23 million. On average, sell-side analysts anticipate that Schrödinger will post -2.7 EPS for the current fiscal year.

Institutional Trading of Schrödinger

Several hedge funds and other institutional investors have recently made changes to their positions in SDGR. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Schrödinger by 60.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,300,750 shares of the company’s stock worth $82,367,000 after acquiring an additional 865,867 shares during the last quarter. Iron Triangle Partners LP purchased a new position in Schrödinger in the 4th quarter worth $16,775,000. Norges Bank purchased a new position in Schrödinger in the 4th quarter worth $8,530,000. Tocqueville Asset Management L.P. raised its stake in Schrödinger by 35.5% in the 1st quarter. Tocqueville Asset Management L.P. now owns 899,750 shares of the company’s stock worth $24,293,000 after acquiring an additional 235,785 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Schrödinger by 1,137.3% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 248,700 shares of the company’s stock worth $9,159,000 after acquiring an additional 228,600 shares during 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.