Schrödinger (NASDAQ:SDGR) Shares Up 7.7% – Time to Buy?

Schrödinger, Inc. (NASDAQ:SDGR) was up 7.7% during mid-day trading on Thursday . The company traded as high as $22.96 and last traded at $23.37. Approximately 287,377 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 980,026 shares. The stock had previously closed at $21.70.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. KeyCorp increased their price objective on shares of Schrödinger from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Piper Sandler decreased their price target on Schrödinger from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday. Finally, BMO Capital Markets boosted their price objective on Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Schrödinger presently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Schrödinger Stock Performance

The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -9.53 and a beta of 1.61. The company has a 50 day moving average price of $22.34 and a 200 day moving average price of $20.59.

Schrödinger (NASDAQ:SDGR) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.20). Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The firm had revenue of $88.32 million during the quarter, compared to analyst estimates of $83.20 million. Research analysts forecast that Schrödinger, Inc. will post -2.37 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd bought a new position in Schrödinger in the 4th quarter valued at about $27,000. KBC Group NV raised its stake in shares of Schrödinger by 45.4% in the third quarter. KBC Group NV now owns 2,508 shares of the company’s stock worth $47,000 after purchasing an additional 783 shares during the last quarter. Paradigm Asset Management Co. LLC purchased a new stake in shares of Schrödinger in the fourth quarter worth approximately $50,000. Quarry LP boosted its position in shares of Schrödinger by 1,150.0% during the third quarter. Quarry LP now owns 2,825 shares of the company’s stock valued at $52,000 after buying an additional 2,599 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Schrödinger by 87.5% during the fourth quarter. GAMMA Investing LLC now owns 2,796 shares of the company’s stock valued at $54,000 after buying an additional 1,305 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

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.