Schrödinger (NASDAQ:SDGR) Price Target Lowered to $37.00 at Citigroup

Schrödinger (NASDAQ:SDGR) had its price target cut by Citigroup from $39.00 to $37.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on SDGR. KeyCorp cut their target price on shares of Schrödinger from $38.00 to $33.00 and set an overweight rating for the company in a research report on Thursday, February 29th. TD Cowen assumed coverage on shares of Schrödinger in a report on Friday, January 26th. They issued an outperform rating and a $42.00 price target on the stock. Piper Sandler dropped their price target on Schrödinger from $60.00 to $50.00 and set an overweight rating for the company in a research note on Thursday, February 29th. The Goldman Sachs Group lowered their target price on Schrödinger from $29.00 to $26.00 and set a neutral rating for the company in a research note on Friday, March 1st. Finally, Bank of America lowered their target price on Schrödinger from $38.00 to $32.00 and set a neutral rating for the company in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Schrödinger presently has a consensus rating of Moderate Buy and a consensus price target of $42.80.

Schrödinger Price Performance

Shares of SDGR stock traded up $0.09 during trading hours on Thursday, reaching $23.77. 43,454 shares of the stock were exchanged, compared to its average volume of 862,847. The business’s fifty day moving average is $26.09 and its two-hundred day moving average is $28.25. Schrödinger has a 12-month low of $20.76 and a 12-month high of $59.24. The firm has a market capitalization of $1.72 billion, a P/E ratio of -12.60 and a beta of 1.58.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.12. The business had revenue of $74.10 million during the quarter, compared to the consensus estimate of $79.12 million. Schrödinger had a negative return on equity of 29.25% and a negative net margin of 75.94%. The company’s revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.39) earnings per share. As a group, equities research analysts predict that Schrödinger will post -2.7 earnings per share for the current fiscal year.

Insider Activity at Schrödinger

In other Schrödinger news, insider Robert Lorne Abel sold 1,205 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $27.55, for a total value of $33,197.75. Following the completion of the sale, the insider now owns 9,340 shares of the company’s stock, valued at $257,317. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Schrödinger news, insider Robert Lorne Abel sold 1,205 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $27.55, for a total value of $33,197.75. Following the completion of the sale, the insider now owns 9,340 shares of the company’s stock, valued at $257,317. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Kenneth Patrick Lorton sold 901 shares of Schrödinger stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $28.29, for a total value of $25,489.29. Following the completion of the transaction, the chief operating officer now owns 36,487 shares in the company, valued at $1,032,217.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,651 shares of company stock valued at $102,395. Insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Schrödinger

A number of institutional investors have recently added to or reduced their stakes in SDGR. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Schrödinger by 60.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,300,750 shares of the company’s stock worth $82,367,000 after acquiring an additional 865,867 shares in the last quarter. Fred Alger Management LLC boosted its holdings in shares of Schrödinger by 2,504.0% in the 3rd quarter. Fred Alger Management LLC now owns 691,840 shares of the company’s stock worth $19,558,000 after acquiring an additional 665,272 shares in the last quarter. Iron Triangle Partners LP acquired a new position in shares of Schrödinger in the 4th quarter worth approximately $16,775,000. Norges Bank acquired a new position in shares of Schrödinger in the 4th quarter worth approximately $8,530,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Schrödinger by 1,137.3% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 248,700 shares of the company’s stock worth $9,159,000 after acquiring an additional 228,600 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

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.