Schrödinger (NASDAQ:SDGR) Trading Up 7.7% – What’s Next?

Shares of Schrödinger, Inc. (NASDAQ:SDGR) rose 7.7% during mid-day trading on Thursday . The stock traded as high as $22.96 and last traded at $23.37. Approximately 287,377 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 980,026 shares. The stock had previously closed at $21.70.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SDGR. KeyCorp upped their price objective on Schrödinger from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Piper Sandler decreased their price objective on shares of Schrödinger from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday. Finally, BMO Capital Markets boosted their target price on shares of Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Two investment analysts have 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Schrödinger Stock Up 0.3 %

The stock has a market cap of $1.63 billion, a P/E ratio of -9.53 and a beta of 1.61. The business’s 50-day simple moving average is $22.34 and its two-hundred day simple moving average is $20.59.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings data 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 analysts’ expectations of $83.20 million. Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. Analysts anticipate that Schrödinger, Inc. will post -2.37 earnings per share for the current fiscal year.

Institutional Trading of Schrödinger

A number of institutional investors have recently added to or reduced their stakes in the stock. Avanza Fonder AB bought a new stake in shares of Schrödinger during the fourth quarter valued at about $577,000. Stephens Investment Management Group LLC grew its stake in Schrödinger by 39.6% during 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 acquiring an additional 436,789 shares in the last quarter. Barclays PLC increased its holdings in Schrödinger by 421.6% during the 3rd quarter. Barclays PLC now owns 107,554 shares of the company’s stock worth $1,995,000 after acquiring an additional 86,933 shares during the period. State Street Corp lifted its stake in Schrödinger by 1.8% in the 3rd quarter. State Street Corp now owns 2,155,620 shares of the company’s stock worth $39,987,000 after purchasing an additional 38,972 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in Schrödinger by 861.0% in the 3rd quarter. Quest Partners LLC now owns 43,773 shares of the company’s stock valued at $812,000 after purchasing an additional 39,218 shares during the period. 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.