Schrodinger (NASDAQ:SDGR) Stock Price Up 10.4% – Still a Buy?

Schrodinger, Inc. (NASDAQ:SDGR)’s share price traded up 10.4% during mid-day trading on Wednesday . The stock traded as high as $19.63 and last traded at $19.5150. 1,100,468 shares were traded during trading, a decline of 18% from the average session volume of 1,339,451 shares. The stock had previously closed at $17.67.

Analysts Set New Price Targets

SDGR has been the subject of a number of analyst reports. Wall Street Zen raised shares of Schrodinger from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. UBS Group assumed coverage on Schrodinger in a research report on Friday, August 14th. They set a “neutral” rating and a $19.00 target price on the stock. Weiss Ratings cut Schrodinger from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 12th. Finally, Morgan Stanley reduced their price target on Schrodinger from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.50.

Schrodinger Stock Up 0.5%

The firm has a market cap of $1.45 billion, a P/E ratio of -26.58 and a beta of 1.63. The business’s 50 day moving average is $16.35 and its 200-day moving average is $13.89.

Schrodinger (NASDAQ:SDGR) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.49. The firm had revenue of $58.89 million for 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%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.65) EPS. As a group, equities analysts predict that Schrodinger, Inc. will post -1.89 earnings per share for the current year.

Hedge Funds Weigh In On Schrodinger

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in Schrodinger by 722.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,374 shares of the company’s stock valued at $25,000 after buying an additional 1,207 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Schrodinger in the 4th quarter worth approximately $26,000. Hantz Financial Services Inc. increased its holdings in shares of Schrodinger by 5,025.8% in the 4th quarter. Hantz Financial Services Inc. now owns 1,589 shares of the company’s stock valued at $28,000 after acquiring an additional 1,558 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Schrodinger in the 4th quarter valued at approximately $36,000. Finally, State of Wyoming acquired a new stake in shares of Schrodinger during the 2nd quarter valued at approximately $39,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

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.