Schrodinger (NASDAQ:SDGR) Stock Moved Up to Strong-Buy by Zacks Research

Zacks Research upgraded shares of Schrodinger (NASDAQ:SDGR) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks reports.

A number of other equities analysts have also recently issued reports on the stock. Weiss Ratings raised shares of Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. UBS Group initiated coverage on Schrodinger in a report on Friday, August 14th. They issued a “neutral” rating and a $19.00 price objective for the company. Finally, Wall Street Zen raised Schrodinger from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.80.

Schrodinger Stock Down 11.3%

Shares of SDGR stock opened at $28.90 on Monday. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -39.05 and a beta of 1.62. Schrodinger has a 12 month low of $10.94 and a 12 month high of $33.78. The stock has a 50-day moving average price of $22.03 and a 200 day moving average price of $16.68.

Schrodinger (NASDAQ:SDGR) last released its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.49. Schrodinger had a negative net margin of 20.98% and a negative return on equity of 16.37%. The company had revenue of $58.89 million for the quarter, compared to the consensus estimate of $47.19 million. During the same period in the prior year, the company posted ($0.65) EPS. The company’s revenue was up 7.5% compared to the same quarter last year. Sell-side analysts predict that Schrodinger will post -1.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Schrodinger

In other Schrodinger news, insider Karen Akinsanya sold 31,599 shares of the company’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $29.37, for a total transaction of $928,062.63. Following the sale, the insider directly owned 69,956 shares of the company’s stock, valued at approximately $2,054,607.72. This represents a 31.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On Schrodinger

Several hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new position in Schrodinger during the second quarter worth approximately $102,000. Squarepoint Ops LLC lifted its position in shares of Schrodinger by 290.4% in the second quarter. Squarepoint Ops LLC now owns 209,123 shares of the company’s stock valued at $3,398,000 after buying an additional 155,556 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Schrodinger by 252.3% during the 2nd quarter. Allworth Financial LP now owns 5,270 shares of the company’s stock worth $86,000 after acquiring an additional 3,774 shares during the period. Corient Private Wealth LP acquired a new position in shares of Schrodinger during the 2nd quarter worth approximately $303,000. Finally, Beacon Pointe Advisors LLC acquired a new position in shares of Schrodinger during the 2nd quarter worth approximately $839,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

About Schrodinger

Schrödinger, Inc is a technology company that develops computational software for pharmaceutical and materials research. Its platform uses physics-based modeling, machine learning and other computational methods to help scientists design and optimize molecules, evaluate potential drug candidates and investigate material properties.

The company’s software offerings include molecular modeling, simulation, predictive modeling and collaborative research tools, such as Maestro, Desmond, Jaguar, FEP+ and LiveDesign.