Schrodinger (NASDAQ:SDGR) Price Target Cut to $24.00 by Analysts at TD Cowen

Schrodinger (NASDAQ:SDGR) had its price target trimmed by TD Cowen from $33.00 to $24.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group assumed coverage on shares of Schrodinger in a report on Monday, September 29th. They set a “neutral” rating and a $19.00 price objective on the stock. KeyCorp lowered their price target on Schrodinger from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday. Cowen reiterated a “buy” rating on shares of Schrodinger in a research note on Thursday. Bank of America raised Schrodinger from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Monday, December 15th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Schrodinger in a report on Tuesday, October 14th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $24.33.

Schrodinger Stock Performance

Shares of NASDAQ SDGR opened at $18.61 on Thursday. Schrodinger has a fifty-two week low of $15.99 and a fifty-two week high of $28.47. The company has a market cap of $1.37 billion, a PE ratio of -7.72 and a beta of 1.54. The business has a 50-day simple moving average of $18.03 and a two-hundred day simple moving average of $19.51.

Schrodinger (NASDAQ:SDGR) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.27. The firm had revenue of $54.32 million during the quarter, compared to analyst estimates of $50.51 million. Schrodinger had a negative net margin of 68.49% and a negative return on equity of 48.24%. Schrodinger’s revenue was up 53.9% on a year-over-year basis. During the same period last year, the firm posted ($0.87) EPS. On average, sell-side analysts predict that Schrodinger will post -2.37 earnings per share for the current fiscal year.

Insider Activity at Schrodinger

In related news, insider Margaret Dugan sold 1,395 shares of the stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $21.07, for a total transaction of $29,392.65. Following the sale, the insider directly owned 24,574 shares of the company’s stock, valued at approximately $517,774.18. This represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 21.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SDGR. Farther Finance Advisors LLC increased its stake in shares of Schrodinger by 347.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,284 shares of the company’s stock valued at $26,000 after purchasing an additional 997 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in Schrodinger in the second quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd grew its holdings in Schrodinger by 212.4% in the third quarter. Aster Capital Management DIFC Ltd now owns 1,943 shares of the company’s stock valued at $39,000 after purchasing an additional 1,321 shares during the period. State of Wyoming purchased a new stake in shares of Schrodinger in the second quarter valued at approximately $39,000. Finally, SBI Securities Co. Ltd. raised its stake in shares of Schrodinger by 110.4% during the 3rd quarter. SBI Securities Co. Ltd. now owns 2,127 shares of the company’s stock worth $43,000 after buying an additional 1,116 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

About Schrodinger

Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.