Schrodinger (NASDAQ:SDGR) Upgraded at 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 morning,Zacks reports.

Several other research analysts have also weighed in on SDGR. UBS Group began coverage on Schrodinger in a research report on Friday, August 14th. They issued a “neutral” rating and a $19.00 price objective for the company. Weiss Ratings upgraded Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 27th. 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 assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Schrodinger presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.80.

Schrodinger Stock Down 5.6%

SDGR opened at $27.29 on Monday. Schrodinger has a twelve month low of $10.94 and a twelve month high of $33.78. The company has a fifty day moving average of $22.27 and a 200-day moving average of $16.79. The stock has a market cap of $2.01 billion, a PE ratio of -36.88 and a beta of 1.62.

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

Insider Activity

In related news, insider Karen Akinsanya sold 31,599 shares of the 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 transaction, the insider directly owned 69,956 shares of the company’s stock, valued at $2,054,607.72. This represents a 31.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Schrodinger

Several hedge funds and other institutional investors have recently bought and sold shares of SDGR. BlackRock Inc. bought a new position in shares of Schrodinger during the 2nd quarter worth about $170,978,000. Rubric Capital Management LP increased its position in Schrodinger by 43.8% in the 1st quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $68,160,000 after buying an additional 1,828,502 shares in the last quarter. Amova Asset Management Americas Inc. raised its stake in Schrodinger by 13.2% during the 1st quarter. Amova Asset Management Americas Inc. now owns 3,190,837 shares of the company’s stock worth $36,248,000 after buying an additional 371,167 shares during the period. Bank of New York Mellon Corp acquired a new position in Schrodinger during the 2nd quarter worth approximately $4,986,000. Finally, Tejara Capital Ltd bought a new position in Schrodinger in the second quarter worth approximately $4,553,000. 79.05% of the stock is owned by institutional investors.

Schrodinger Company Profile

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.