Schrodinger (NASDAQ:SDGR) Stock Rating Lowered by Zacks Research

Schrodinger (NASDAQ:SDGR) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

A number of other research analysts have also issued reports on the stock. TD Cowen upped their target price on shares of Schrodinger from $20.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. Wall Street Zen upgraded shares of Schrodinger from a “strong sell” rating to a “hold” rating in a report on Saturday, August 8th. UBS Group lifted their price target on shares of Schrodinger from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, October 20th. BMO Capital Markets upped their price objective on shares of Schrodinger from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, October 12th. Finally, KeyCorp upped their price objective on shares of Schrodinger from $20.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, October 16th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Schrodinger has a consensus rating of “Hold” and a consensus price target of $25.83.

Schrodinger Stock Performance

Schrodinger stock opened at $28.52 on Tuesday. Schrodinger has a fifty-two week low of $10.94 and a fifty-two week high of $33.78. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -38.54 and a beta of 1.69. The stock’s fifty day moving average is $25.43 and its two-hundred day moving average is $16.95.

Schrodinger (NASDAQ:SDGR) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.17. Schrodinger had a negative net margin of 20.98% and a negative return on equity of 16.37%. The business had revenue of $64.49 million for the quarter, compared to analyst estimates of $47.73 million. During the same period in the prior year, the business earned ($0.45) earnings per share. The company’s quarterly revenue was up 18.7% on a year-over-year basis. As a group, sell-side analysts forecast that Schrodinger will post -1.50 EPS for the current fiscal year.

Insider Buying and Selling at Schrodinger

In other Schrodinger news, insider Karen Akinsanya sold 31,599 shares of Schrodinger stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $29.37, for a total value of $928,062.63. Following the transaction, the insider owned 69,956 shares in the company, valued at $2,054,607.72. This trade represents a 31.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.10% of the stock is currently owned by company insiders.

Institutional Trading of Schrodinger

A number of institutional investors and hedge funds have recently made changes to their positions in SDGR. BlackRock Inc. purchased a new position in shares of Schrodinger in the 2nd quarter worth $170,978,000. Rubric Capital Management LP grew its position in Schrodinger by 43.8% during the first quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $68,160,000 after acquiring an additional 1,828,502 shares during the period. Amova Asset Management Americas Inc. grew its position in Schrodinger by 13.2% during the first quarter. Amova Asset Management Americas Inc. now owns 3,190,837 shares of the company’s stock valued at $36,248,000 after acquiring an additional 371,167 shares during the period. Bank of New York Mellon Corp purchased a new stake in Schrodinger during the second quarter valued at about $4,986,000. Finally, Tejara Capital Ltd acquired a new stake in Schrodinger during the second quarter worth about $4,553,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

About Schrodinger

Schrödinger, Inc develops computational software and services designed to support pharmaceutical, biotechnology and materials research. Its platform uses physics-based modeling, machine learning and other computational methods to help scientists analyze molecular interactions, design compounds and prioritize candidates for experimental testing.

The company’s software offerings include tools for molecular modeling, quantum chemistry, molecular dynamics, virtual screening, property prediction and free-energy calculations.