Schrödinger (NASDAQ:SDGR) Price Target Lowered to $37.00 at Citigroup

Schrödinger (NASDAQ:SDGR) had its price objective decreased by Citigroup from $39.00 to $37.00 in a research report released on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. KeyCorp cut their price objective on shares of Schrödinger from $38.00 to $33.00 and set an overweight rating on the stock in a report on Thursday, February 29th. Bank of America cut their price objective on shares of Schrödinger from $38.00 to $32.00 and set a neutral rating on the stock in a report on Thursday, February 29th. TD Cowen began coverage on shares of Schrödinger in a report on Friday, January 26th. They set an outperform rating and a $42.00 price objective on the stock. Craig Hallum cut their price objective on shares of Schrödinger from $35.00 to $30.00 and set a buy rating on the stock in a report on Thursday. Finally, The Goldman Sachs Group cut their target price on shares of Schrödinger from $29.00 to $26.00 and set a neutral rating on the stock in a report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $42.80.

Schrödinger Trading Up 2.1 %

Shares of Schrödinger stock opened at $23.68 on Thursday. Schrödinger has a 52-week low of $20.76 and a 52-week high of $59.24. The company has a 50 day moving average of $26.09 and a 200 day moving average of $28.23.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.12. Schrödinger had a negative net margin of 75.94% and a negative return on equity of 29.25%. The company had revenue of $74.10 million during the quarter, compared to the consensus estimate of $79.12 million. During the same quarter in the previous year, the firm earned ($0.39) earnings per share. The firm’s quarterly revenue was up 30.5% on a year-over-year basis. On average, research analysts predict that Schrödinger will post -2.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $28.29, for a total transaction of $25,489.29. Following the transaction, the chief operating officer now owns 36,487 shares in the company, valued at approximately $1,032,217.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Robert Lorne Abel sold 1,205 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $27.55, for a total transaction of $33,197.75. Following the sale, the insider now owns 9,340 shares of the company’s stock, valued at approximately $257,317. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Kenneth Patrick Lorton sold 901 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $28.29, for a total value of $25,489.29. Following the completion of the transaction, the chief operating officer now directly owns 36,487 shares of the company’s stock, valued at $1,032,217.23. The disclosure for this sale can be found here. Insiders sold 3,651 shares of company stock valued at $102,395 over the last ninety days. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of Schrödinger

Institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its position in shares of Schrödinger by 70.2% in the first quarter. Geneos Wealth Management Inc. now owns 37,126 shares of the company’s stock valued at $1,002,000 after buying an additional 15,310 shares in the last quarter. GSA Capital Partners LLP grew its stake in Schrödinger by 127.7% in the 1st quarter. GSA Capital Partners LLP now owns 39,604 shares of the company’s stock valued at $1,069,000 after acquiring an additional 22,210 shares during the last quarter. Baillie Gifford & Co. increased its holdings in Schrödinger by 0.4% during the 1st quarter. Baillie Gifford & Co. now owns 2,612,007 shares of the company’s stock valued at $70,524,000 after acquiring an additional 9,618 shares in the last quarter. Perigon Wealth Management LLC raised its position in Schrödinger by 14.0% during the first quarter. Perigon Wealth Management LLC now owns 9,195 shares of the company’s stock worth $248,000 after acquiring an additional 1,130 shares during the last quarter. Finally, TrueMark Investments LLC lifted its holdings in shares of Schrödinger by 13.5% in the first quarter. TrueMark Investments LLC now owns 46,572 shares of the company’s stock valued at $1,257,000 after purchasing an additional 5,551 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

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.