Morgan Stanley Cuts Schrodinger (NASDAQ:SDGR) Price Target to $19.00

Schrodinger (NASDAQ:SDGR) had its price objective cut by Morgan Stanley from $28.00 to $19.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also recently commented on the company. Barclays began coverage on Schrodinger in a research report on Thursday, August 14th. They issued an “overweight” rating and a $25.00 target price for the company. KeyCorp reduced their target price on Schrodinger from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, July 14th. Finally, Citigroup cut Schrodinger from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $35.00 to $20.00 in a research report on Friday, August 15th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.83.

Schrodinger Price Performance

Shares of SDGR stock opened at $19.36 on Monday. The stock has a market cap of $1.43 billion, a P/E ratio of -7.81 and a beta of 1.67. Schrodinger has a one year low of $16.60 and a one year high of $28.47. The stock has a fifty day moving average price of $20.75 and a 200 day moving average price of $22.23.

Schrodinger (NASDAQ:SDGR) last issued its earnings results on Wednesday, August 6th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.24. The firm had revenue of $54.76 million during the quarter, compared to analysts’ expectations of $52.03 million. Schrodinger had a negative return on equity of 45.70% and a negative net margin of 76.22%.Schrodinger’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period last year, the business earned ($0.66) earnings per share. Equities research analysts anticipate that Schrodinger will post -2.37 EPS for the current year.

Institutional Trading of Schrodinger

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in Schrodinger by 2.3% in the 4th quarter. JPMorgan Chase & Co. now owns 125,479 shares of the company’s stock valued at $2,420,000 after purchasing an additional 2,777 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Schrodinger by 6.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 185,754 shares of the company’s stock valued at $3,583,000 after purchasing an additional 11,343 shares during the last quarter. Raymond James Financial Inc. bought a new position in Schrodinger in the 4th quarter valued at $325,000. XTX Topco Ltd bought a new position in Schrodinger in the 4th quarter valued at $199,000. Finally, CANADA LIFE ASSURANCE Co raised its position in Schrodinger by 4.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 72,765 shares of the company’s stock valued at $1,402,000 after purchasing an additional 2,904 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors.

Schrodinger 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.