Morgan Stanley Increases Schrödinger (NASDAQ:SDGR) Price Target to $39.00

Schrödinger (NASDAQ:SDGRGet Rating) had its target price upped by Morgan Stanley from $38.00 to $39.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also commented on SDGR. BMO Capital Markets cut their price target on shares of Schrödinger from $83.00 to $78.00 and set an outperform rating for the company in a report on Wednesday, March 1st. The Goldman Sachs Group initiated coverage on shares of Schrödinger in a report on Monday, December 19th. They issued a neutral rating and a $23.00 price target for the company. Citigroup boosted their price target on shares of Schrödinger from $48.00 to $51.00 and gave the stock a buy rating in a report on Tuesday, January 31st. Finally, Piper Sandler boosted their price target on shares of Schrödinger from $86.00 to $87.00 and gave the stock an overweight rating in a report on Thursday, January 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $55.60.

Schrödinger Price Performance

SDGR opened at $24.32 on Friday. The firm has a fifty day moving average price of $23.24 and a 200 day moving average price of $22.67. Schrödinger has a 1 year low of $15.85 and a 1 year high of $37.25. The stock has a market cap of $1.73 billion, a P/E ratio of -11.58 and a beta of 1.02.

Insider Transactions at Schrödinger

In other news, CEO Ramy Farid sold 66,886 shares of the company’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $18.28, for a total transaction of $1,222,676.08. Following the completion of the sale, the chief executive officer now owns 184,432 shares of the company’s stock, valued at $3,371,416.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Schrödinger

A number of large investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Schrödinger by 449.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,409,777 shares of the company’s stock valued at $60,196,000 after purchasing an additional 1,971,292 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Schrödinger in the fourth quarter valued at about $26,567,000. Millennium Management LLC grew its holdings in shares of Schrödinger by 1,463.0% in the second quarter. Millennium Management LLC now owns 930,145 shares of the company’s stock valued at $24,565,000 after purchasing an additional 870,635 shares during the period. ARK Investment Management LLC grew its holdings in shares of Schrödinger by 27.5% in the third quarter. ARK Investment Management LLC now owns 3,764,707 shares of the company’s stock valued at $94,042,000 after purchasing an additional 811,535 shares during the period. Finally, Baillie Gifford & Co. grew its holdings in shares of Schrödinger by 54.2% in the fourth quarter. Baillie Gifford & Co. now owns 1,821,858 shares of the company’s stock valued at $34,051,000 after purchasing an additional 640,051 shares during the period. Hedge funds and other institutional investors own 68.70% of the company’s stock.

About Schrödinger

(Get Rating)

Schrödinger, Inc, together with its subsidiaries, provides physics-based software 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 selling its software for drug discovery in the life sciences industry, as well as to customers in materials science industries.

See Also

Analyst Recommendations for Schrödinger (NASDAQ:SDGR)

Receive News & Ratings for Schrödinger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schrödinger and related companies with MarketBeat.com's FREE daily email newsletter.