Barclays Initiates Coverage on Schrodinger (NASDAQ:SDGR)

Equities researchers at Barclays assumed coverage on shares of Schrodinger (NASDAQ:SDGR) in a research note issued on Thursday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $25.00 price target on the stock. Barclays‘s price objective would suggest a potential upside of 29.00% from the stock’s current price.

SDGR has been the subject of several other research reports. KeyCorp dropped their price target on Schrodinger from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, July 14th. Morgan Stanley began coverage on Schrodinger in a research report on Thursday, July 3rd. They issued an “equal weight” rating and a $28.00 price objective for the company. Finally, Citigroup cut Schrodinger from a “buy” rating to a “neutral” rating and reduced their target price for the company from $35.00 to $20.00 in a report on Friday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.33.

Schrodinger Price Performance

SDGR opened at $19.38 on Thursday. The business has a 50 day simple moving average of $21.14 and a 200-day simple moving average of $22.34. The stock has a market capitalization of $1.42 billion, a P/E ratio of -7.81 and a beta of 1.67. Schrodinger has a 12 month low of $16.60 and a 12 month high of $28.47.

Schrodinger (NASDAQ:SDGR) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.24. Schrodinger had a negative return on equity of 45.70% and a negative net margin of 76.22%. The firm had revenue of $54.76 million during the quarter, compared to the consensus estimate of $52.03 million. During the same period last year, the business posted ($0.66) EPS. Schrodinger’s quarterly revenue was up 15.7% on a year-over-year basis. Research analysts anticipate that Schrodinger will post -2.37 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SDGR. Greenwood Capital Associates LLC increased its position in shares of Schrodinger by 2.7% during the first quarter. Greenwood Capital Associates LLC now owns 23,139 shares of the company’s stock worth $457,000 after acquiring an additional 612 shares during the last quarter. United Advisor Group LLC increased its position in shares of Schrodinger by 3.3% during the fourth quarter. United Advisor Group LLC now owns 19,769 shares of the company’s stock worth $381,000 after acquiring an additional 634 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Schrodinger by 29.9% during the first quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company’s stock worth $58,000 after acquiring an additional 680 shares during the last quarter. Bank of Montreal Can increased its position in shares of Schrodinger by 5.8% during the second quarter. Bank of Montreal Can now owns 15,941 shares of the company’s stock worth $321,000 after acquiring an additional 879 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Schrodinger by 347.4% during the second quarter. Farther Finance Advisors LLC now owns 1,284 shares of the company’s stock worth $26,000 after acquiring an additional 997 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Schrodinger 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.