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

Schrödinger (NASDAQ:SDGR) had its price target reduced by Citigroup from $39.00 to $37.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently issued reports on SDGR. The Goldman Sachs Group lowered their price target on Schrödinger from $29.00 to $26.00 and set a neutral rating for the company in a report on Friday, March 1st. Piper Sandler cut their price target on Schrödinger from $60.00 to $50.00 and set an overweight rating for the company in a research note on Thursday, February 29th. Bank of America cut their price objective on Schrödinger from $38.00 to $32.00 and set a neutral rating for the company in a research report on Thursday, February 29th. KeyCorp cut their price objective on Schrödinger from $38.00 to $33.00 and set an overweight rating for the company in a research report on Thursday, February 29th. Finally, Craig Hallum reduced their target price on Schrödinger from $35.00 to $30.00 and set a buy rating on the stock in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $42.80.

Schrödinger Stock Performance

Shares of NASDAQ SDGR traded up $0.09 during trading on Thursday, hitting $23.77. 43,454 shares of the company were exchanged, compared to its average volume of 862,847. Schrödinger has a 12-month low of $20.76 and a 12-month high of $59.24. The company has a fifty day moving average price of $26.09 and a 200-day moving average price of $28.25. The firm has a market capitalization of $1.72 billion, a PE ratio of -12.60 and a beta of 1.58.

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. The company had revenue of $74.10 million for the quarter, compared to analyst estimates of $79.12 million. Schrödinger had a negative net margin of 75.94% and a negative return on equity of 29.25%. The business’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.39) earnings per share. Research analysts anticipate that Schrödinger will post -2.7 earnings per share for the current fiscal year.

Insider Transactions at Schrödinger

In other news, insider Robert Lorne Abel sold 1,205 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $27.55, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Kenneth Patrick Lorton sold 901 shares of Schrödinger stock in a transaction on Monday, February 12th. The stock was sold at an average price of $28.29, for a total value of $25,489.29. Following the transaction, the chief operating officer now directly owns 36,487 shares in the company, valued at approximately $1,032,217.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Lorne Abel sold 1,205 shares of Schrödinger stock in a transaction on Monday, February 12th. The shares were sold at an average price of $27.55, for a total value of $33,197.75. Following the transaction, the insider now owns 9,340 shares in the company, valued at approximately $257,317. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,651 shares of company stock valued at $102,395. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Schrödinger by 60.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,300,750 shares of the company’s stock valued at $82,367,000 after purchasing an additional 865,867 shares in the last quarter. Fred Alger Management LLC lifted its position in shares of Schrödinger by 2,504.0% during the 3rd quarter. Fred Alger Management LLC now owns 691,840 shares of the company’s stock worth $19,558,000 after purchasing an additional 665,272 shares during the last quarter. Iron Triangle Partners LP acquired a new position in shares of Schrödinger during the 4th quarter worth about $16,775,000. Norges Bank acquired a new position in shares of Schrödinger during the 4th quarter worth about $8,530,000. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Schrödinger by 1,137.3% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 248,700 shares of the company’s stock worth $9,159,000 after purchasing an additional 228,600 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

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.