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

Schrödinger (NASDAQ:SDGR) had its price target reduced by Citigroup from $39.00 to $37.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 59.55% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. Bank of America decreased their price target on Schrödinger from $38.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Craig Hallum dropped their price target on shares of Schrödinger from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday. TD Cowen began coverage on shares of Schrödinger in a research report on Friday, January 26th. They issued an “outperform” rating and a $42.00 price objective for the company. Piper Sandler dropped their target price on Schrödinger from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group cut their price target on Schrödinger from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Schrödinger currently has an average rating of “Moderate Buy” and an average price target of $42.80.

Schrödinger Stock Down 8.2 %

Shares of Schrödinger stock traded down $2.07 during trading hours on Thursday, hitting $23.19. The company’s stock had a trading volume of 2,816,951 shares, compared to its average volume of 864,925. The business has a fifty day moving average of $26.39 and a 200 day moving average of $28.27. Schrödinger has a 1-year low of $20.76 and a 1-year high of $59.24. The company has a market capitalization of $1.68 billion, a PE ratio of 36.43 and a beta of 1.58.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.12. Schrödinger had a negative return on equity of 23.58% and a net margin of 18.79%. The company had revenue of $74.10 million for the quarter, compared to analyst estimates of $79.12 million. During the same period last year, the company posted ($0.39) earnings per share. The firm’s revenue was up 30.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Schrödinger will post -2.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Schrödinger

Several hedge funds and other institutional investors have recently made changes to their positions in SDGR. SG Americas Securities LLC increased its holdings in shares of Schrödinger by 8.4% during the fourth quarter. SG Americas Securities LLC now owns 5,125 shares of the company’s stock valued at $183,000 after purchasing an additional 397 shares during the period. Spire Wealth Management lifted its position in Schrödinger by 66.7% in the third quarter. Spire Wealth Management now owns 1,000 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares during the period. Motley Fool Asset Management LLC boosted its stake in Schrödinger by 2.0% during the 3rd quarter. Motley Fool Asset Management LLC now owns 29,402 shares of the company’s stock valued at $831,000 after purchasing an additional 570 shares in the last quarter. Tudor Investment Corp Et Al raised its stake in shares of Schrödinger by 1.0% in the 3rd quarter. Tudor Investment Corp Et Al now owns 91,725 shares of the company’s stock worth $2,593,000 after buying an additional 908 shares in the last quarter. Finally, Perigon Wealth Management LLC boosted its position in shares of Schrödinger by 14.1% during the 3rd quarter. Perigon Wealth Management LLC now owns 7,811 shares of the company’s stock valued at $221,000 after purchasing an additional 964 shares in 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.