Schrödinger (NASDAQ:SDGR) Announces Earnings Results, Beats Estimates By $0.04 EPS

Schrödinger (NASDAQ:SDGRGet Rating) released its quarterly earnings results on Wednesday. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.04, MarketWatch Earnings reports. The company had revenue of $48.60 million during the quarter, compared to analysts’ expectations of $34.57 million. Schrödinger had a negative return on equity of 16.91% and a negative net margin of 72.79%. The business’s revenue was up 51.4% compared to the same quarter last year.

Shares of Schrödinger stock opened at $26.07 on Thursday. The business has a 50 day simple moving average of $31.34 and a two-hundred day simple moving average of $35.12. Schrödinger has a 12 month low of $23.14 and a 12 month high of $79.75. The stock has a market capitalization of $1.85 billion, a P/E ratio of -19.06 and a beta of 1.21.

Several institutional investors have recently made changes to their positions in SDGR. LPL Financial LLC grew its position in shares of Schrödinger by 3.2% in the third quarter. LPL Financial LLC now owns 7,539 shares of the company’s stock valued at $412,000 after purchasing an additional 237 shares in the last quarter. Comerica Bank grew its position in shares of Schrödinger by 2.0% in the fourth quarter. Comerica Bank now owns 21,146 shares of the company’s stock valued at $583,000 after purchasing an additional 423 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Schrödinger by 2.8% in the fourth quarter. California State Teachers Retirement System now owns 66,415 shares of the company’s stock valued at $2,313,000 after purchasing an additional 1,780 shares in the last quarter. Monolith Advisors purchased a new stake in shares of Schrödinger in the fourth quarter valued at approximately $71,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Schrödinger in the third quarter valued at approximately $250,000. 62.31% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on SDGR shares. Citigroup started coverage on Schrödinger in a report on Monday, February 28th. They issued a “buy” rating and a $55.00 price target for the company. Piper Sandler reduced their target price on Schrödinger from $87.00 to $84.00 in a report on Friday, February 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $70.14.

About Schrödinger (Get Rating)

Schrödinger, Inc, together with its subsidiaries, provides physics-based software 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 selling its software for drug discovery in the life sciences industry, as well as to customers in materials science industries.

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Earnings History for Schrödinger (NASDAQ:SDGR)

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