Craig Hallum Lowers Schrödinger (NASDAQ:SDGR) Price Target to $30.00

Schrödinger (NASDAQ:SDGR) had its price objective cut by equities research analysts at Craig Hallum from $35.00 to $30.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price objective points to a potential upside of 31.29% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. 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 target price for the company. Piper Sandler cut their price objective on Schrödinger from $60.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Citigroup lowered their target price on Schrödinger from $47.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. The Goldman Sachs Group cut their price target 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, KeyCorp lowered their price target on Schrödinger from $38.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Schrödinger presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Schrödinger Stock Performance

Shares of SDGR stock traded down $2.41 on Thursday, reaching $22.85. 1,536,944 shares of the company’s stock traded hands, compared to its average volume of 855,310. The business’s 50 day moving average price is $26.39 and its two-hundred day moving average price is $28.27. The company has a market capitalization of $1.65 billion, a P/E ratio of 36.22 and a beta of 1.58. Schrödinger has a 12-month low of $20.76 and a 12-month high of $59.24.

Schrödinger (NASDAQ:SDGR) last issued its earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. The company had revenue of $74.10 million for the quarter, compared to the consensus estimate of $79.12 million. Schrödinger had a negative return on equity of 23.58% and a net margin of 18.79%. The firm’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.39) EPS. Research analysts predict that Schrödinger will post -2.73 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Spire Wealth Management increased its position in Schrödinger by 66.7% during the third quarter. Spire Wealth Management now owns 1,000 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares during the period. International Assets Investment Management LLC grew its position in Schrödinger by 3,480.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,790 shares of the company’s stock worth $64,000 after purchasing an additional 1,740 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Schrödinger during the 4th quarter worth about $67,000. PNC Financial Services Group Inc. increased its holdings in shares of Schrödinger by 186.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock worth $76,000 after purchasing an additional 1,385 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in shares of Schrödinger by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,244 shares of the company’s stock valued at $152,000 after buying an additional 1,076 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.