Schrodinger (NASDAQ:SDGR) Stock Rating Upgraded by The Goldman Sachs Group

Schrodinger (NASDAQ:SDGR) was upgraded by analysts at The Goldman Sachs Group to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on SDGR. Wall Street Zen raised Schrodinger from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. KeyCorp reduced their target price on Schrodinger from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, July 14th. Citigroup lowered Schrodinger from a “buy” rating to a “neutral” rating and reduced their target price for the company from $35.00 to $20.00 in a research note on Friday, August 15th. Barclays assumed coverage on Schrodinger in a research note on Thursday, August 14th. They issued an “overweight” rating and a $25.00 target price on the stock. Finally, Morgan Stanley reduced their target price on Schrodinger from $28.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, August 18th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Schrodinger currently has an average rating of “Moderate Buy” and an average target price of $26.57.

Schrodinger Trading Up 0.1%

Shares of SDGR opened at $20.06 on Monday. Schrodinger has a twelve month low of $16.60 and a twelve month high of $28.47. The stock’s 50 day moving average is $19.70 and its two-hundred day moving average is $21.43. The firm has a market capitalization of $1.48 billion, a PE ratio of -8.09 and a beta of 1.79.

Schrodinger (NASDAQ:SDGR) last announced its quarterly 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 business had revenue of $54.76 million for the quarter, compared to analyst estimates of $52.03 million. Schrodinger had a negative return on equity of 45.70% and a negative net margin of 76.22%.The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.66) EPS. On average, sell-side analysts predict that Schrodinger will post -2.37 EPS for the current year.

Institutional Trading of Schrodinger

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Rubric Capital Management LP increased its holdings in shares of Schrodinger by 4.2% during the 2nd quarter. Rubric Capital Management LP now owns 5,000,000 shares of the company’s stock worth $100,600,000 after buying an additional 200,000 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Schrodinger by 169.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,357,532 shares of the company’s stock worth $86,018,000 after buying an additional 2,737,728 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Schrodinger by 5.4% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,649,950 shares of the company’s stock worth $73,437,000 after buying an additional 187,535 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of Schrodinger by 7.2% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,591,492 shares of the company’s stock worth $52,089,000 after buying an additional 174,684 shares during the last quarter. Finally, ARK Investment Management LLC increased its holdings in shares of Schrodinger by 3.9% during the 1st quarter. ARK Investment Management LLC now owns 2,294,519 shares of the company’s stock worth $45,294,000 after buying an additional 85,761 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

About Schrodinger

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.