Schrödinger, Inc. (NASDAQ:SDGR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Schrödinger, Inc. (NASDAQ:SDGR) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $33.44.

SDGR has been the subject of several recent analyst reports. KeyCorp reduced their target price on Schrödinger from $30.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Leerink Partners initiated coverage on Schrödinger in a research report on Tuesday, July 2nd. They issued an “outperform” rating and a $29.00 target price for the company. Morgan Stanley decreased their target price on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 21st. Finally, Leerink Partnrs raised Schrödinger to a “strong-buy” rating in a research report on Tuesday, July 2nd.

Schrödinger Stock Down 3.0 %

SDGR stock opened at $16.98 on Thursday. The firm has a market cap of $1.23 billion, a PE ratio of -9.03 and a beta of 1.50. The business has a 50 day moving average of $19.79 and a 200-day moving average of $21.80. Schrödinger has a 12-month low of $16.93 and a 12-month high of $38.00.

Schrödinger (NASDAQ:SDGR) last released its earnings results on Wednesday, July 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.11. The company had revenue of $47.33 million during the quarter, compared to analyst estimates of $40.19 million. Schrödinger had a negative return on equity of 38.38% and a negative net margin of 100.42%. On average, research analysts expect that Schrödinger will post -2.19 earnings per share for the current year.

Hedge Funds Weigh In On Schrödinger

A number of large investors have recently made changes to their positions in the stock. Texas Permanent School Fund Corp boosted its holdings in shares of Schrödinger by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 47,869 shares of the company’s stock worth $1,292,000 after acquiring an additional 626 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Schrödinger by 2.6% in the second quarter. Louisiana State Employees Retirement System now owns 27,800 shares of the company’s stock worth $538,000 after acquiring an additional 700 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Schrödinger by 49.5% in the second quarter. GAMMA Investing LLC now owns 2,124 shares of the company’s stock worth $41,000 after acquiring an additional 703 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Schrödinger by 7.4% in the first quarter. ProShare Advisors LLC now owns 10,987 shares of the company’s stock worth $297,000 after acquiring an additional 753 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of Schrödinger by 2.7% in the first quarter. Illinois Municipal Retirement Fund now owns 32,043 shares of the company’s stock worth $865,000 after acquiring an additional 831 shares during the period. 79.05% of the stock is owned by institutional investors.

About Schrödinger

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.