TD Cowen Forecasts Strong Price Appreciation for Schrodinger (NASDAQ:SDGR) Stock

Schrodinger (NASDAQ:SDGR) had its target price increased by analysts at TD Cowen from $31.00 to $36.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen‘s price target indicates a potential upside of 20.72% from the company’s previous close.

SDGR has been the subject of several other reports. Zacks Research cut shares of Schrodinger from a “strong-buy” rating to a “hold” rating in a report on Tuesday. BMO Capital Markets upped their price target on shares of Schrodinger from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, October 12th. KeyCorp lifted their target price on Schrodinger from $20.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, October 16th. UBS Group lifted their price objective on Schrodinger from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, October 20th. Finally, Weiss Ratings upgraded shares of Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.67.

Schrodinger Stock Performance

Shares of Schrodinger stock traded up $1.05 during trading hours on Thursday, reaching $29.82. The company’s stock had a trading volume of 1,427,638 shares, compared to its average volume of 2,114,466. Schrodinger has a one year low of $10.94 and a one year high of $33.78. The company’s 50 day simple moving average is $25.80 and its 200 day simple moving average is $17.08. The stock has a market cap of $2.20 billion, a P/E ratio of -37.75 and a beta of 1.69.

Schrodinger (NASDAQ:SDGR) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.50) earnings per share (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 company had revenue of $64.49 million during the quarter, compared to the consensus estimate of $47.73 million. During the same quarter in the previous year, the company posted ($0.45) earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. On average, sell-side analysts predict that Schrodinger will post -1.50 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Schrodinger news, insider Karen Akinsanya sold 31,599 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $29.37, for a total value of $928,062.63. Following the completion of the transaction, the insider owned 69,956 shares of the company’s stock, valued at $2,054,607.72. This represents a 31.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 added to or reduced their stakes in SDGR. Russell Investments Group Ltd. raised its stake in Schrodinger by 53.8% during the third quarter. Russell Investments Group Ltd. now owns 150,488 shares of the company’s stock worth $4,673,000 after acquiring an additional 52,632 shares in the last quarter. Maryland State Retirement & Pension System acquired a new position in shares of Schrodinger in the 3rd quarter valued at $393,000. Lisanti Capital Growth LLC bought a new stake in shares of Schrodinger in the 3rd quarter valued at about $2,875,000. Illinois Municipal Retirement Fund acquired a new stake in Schrodinger in the third quarter worth $922,000. Finally, Fulcrum Asset Management LLP grew its stake in Schrodinger by 1,509.3% in the third quarter. Fulcrum Asset Management LLP now owns 3,476 shares of the company’s stock valued at $105,000 after acquiring an additional 3,260 shares during the period. Institutional investors own 79.05% of the company’s stock.

Schrodinger Company Profile

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.