Schrodinger (NASDAQ:SDGR) Upgraded at Bank of America

Bank of America upgraded shares of Schrodinger (NASDAQ:SDGR) from a neutral rating to a buy rating in a research note issued to investors on Monday morning, Marketbeat Ratings reports. They currently have $24.00 target price on the stock.

Several other equities analysts have also commented on the stock. Wall Street Zen upgraded shares of Schrodinger from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. The Goldman Sachs Group started coverage on shares of Schrodinger in a research report on Monday, September 29th. They set a “neutral” rating and a $19.00 target price on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Schrodinger in a research report on Tuesday, October 14th. Morgan Stanley reduced their price objective 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. Finally, KeyCorp lowered their price objective on Schrodinger from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. Four 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, Schrodinger currently has a consensus rating of “Hold” and an average target price of $25.71.

Schrodinger Price Performance

NASDAQ SDGR opened at $17.40 on Monday. Schrodinger has a 1-year low of $15.99 and a 1-year high of $28.47. The business has a 50 day simple moving average of $18.84 and a two-hundred day simple moving average of $20.00. The stock has a market capitalization of $1.28 billion, a PE ratio of -7.22 and a beta of 1.56.

Schrodinger (NASDAQ:SDGR) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.27. Schrodinger had a negative return on equity of 48.24% and a negative net margin of 68.49%.The business had revenue of $54.32 million for the quarter, compared to analysts’ expectations of $50.51 million. During the same period in the prior year, the firm earned ($0.87) EPS. The company’s revenue for the quarter was up 53.9% on a year-over-year basis. On average, analysts anticipate that Schrodinger will post -2.37 EPS for the current fiscal year.

Insider Activity at Schrodinger

In other news, insider Margaret Dugan sold 1,395 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $21.07, for a total transaction of $29,392.65. Following the transaction, the insider owned 24,574 shares of the company’s stock, valued at approximately $517,774.18. This represents a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 21.00% of the company’s stock.

Hedge Funds Weigh In On Schrodinger

Hedge funds have recently bought and sold shares of the business. Capital Fund Management S.A. bought a new position in Schrodinger in the second quarter worth approximately $1,486,000. Geneos Wealth Management Inc. increased its holdings in shares of Schrodinger by 41.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 84,943 shares of the company’s stock valued at $1,677,000 after acquiring an additional 24,947 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Schrodinger by 169.0% in 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 acquiring an additional 2,737,728 shares in the last quarter. Perigon Wealth Management LLC purchased a new stake in shares of Schrodinger during the 2nd quarter worth $294,000. Finally, Slow Capital Inc. purchased a new stake in shares of Schrodinger during the 2nd quarter worth $2,085,000. Institutional investors own 79.05% of the company’s stock.

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.