Schrödinger (NASDAQ:SDGR) Price Target Raised to $32.00

Schrödinger (NASDAQ:SDGR - Free Report) had its target price lifted by KeyCorp from $30.00 to $32.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Separately, Piper Sandler reduced their price target on shares of Schrödinger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $33.00.

Schrödinger Trading Up 0.5 %

SDGR traded up $0.12 during midday trading on Wednesday, hitting $25.87. 432,032 shares of the company were exchanged, compared to its average volume of 823,551. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -11.06 and a beta of 1.77. Schrödinger has a 1-year low of $16.60 and a 1-year high of $28.47. The company's 50 day simple moving average is $22.01 and its 200 day simple moving average is $21.02.

Schrödinger (NASDAQ:SDGR - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.20). The firm had revenue of $88.32 million for the quarter, compared to analyst estimates of $83.20 million. Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. On average, equities analysts anticipate that Schrödinger will post -2.37 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Geoffrey Craig Porges sold 5,491 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $21.76, for a total transaction of $119,484.16. Following the completion of the transaction, the chief financial officer now directly owns 27,544 shares of the company's stock, valued at approximately $599,357.44. The trade was a 16.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Karen Akinsanya sold 16,723 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $25.09, for a total transaction of $419,580.07. Following the completion of the sale, the insider now directly owns 15,625 shares in the company, valued at approximately $392,031.25. This represents a 51.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is owned by insiders.

Institutional Trading of Schrödinger

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SDGR. Avanza Fonder AB purchased a new position in shares of Schrödinger during the fourth quarter worth approximately $577,000. Barclays PLC boosted its stake in shares of Schrödinger by 421.6% in the third quarter. Barclays PLC now owns 107,554 shares of the company's stock valued at $1,995,000 after buying an additional 86,933 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Schrödinger during the fourth quarter worth $325,000. State Street Corp raised its position in Schrödinger by 1.8% in the third quarter. State Street Corp now owns 2,155,620 shares of the company's stock worth $39,987,000 after acquiring an additional 38,972 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Schrödinger by 60.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company's stock valued at $67,718,000 after acquiring an additional 1,319,464 shares during the period. Institutional investors and hedge funds own 79.05% of the company's stock.

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.