Piper Sandler Issues Pessimistic Forecast for Schrödinger (NASDAQ:SDGR) Stock Price

Schrödinger (NASDAQ:SDGR - Free Report) had its target price cut by Piper Sandler from $50.00 to $45.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently weighed in on SDGR. KeyCorp lifted their price objective on shares of Schrödinger from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, January 24th. BMO Capital Markets boosted their price objective on shares of Schrödinger from $25.00 to $28.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $32.29.

Schrödinger Price Performance

NASDAQ SDGR traded down $1.07 on Thursday, hitting $21.24. The company had a trading volume of 868,025 shares, compared to its average volume of 1,023,847. The company's fifty day moving average price is $22.34 and its 200-day moving average price is $20.61. Schrödinger has a 12-month low of $16.67 and a 12-month high of $29.15. The company has a market capitalization of $1.55 billion, a PE ratio of -9.08 and a beta of 1.61.

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

Institutional Investors Weigh In On Schrödinger

Large investors have recently modified their holdings of the stock. Rubric Capital Management LP increased its stake in Schrödinger by 17.7% in the 3rd quarter. Rubric Capital Management LP now owns 3,685,503 shares of the company's stock valued at $68,366,000 after buying an additional 555,503 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Schrödinger by 60.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company's stock worth $67,718,000 after acquiring an additional 1,319,464 shares during the period. Nikko Asset Management Americas Inc. increased its stake in shares of Schrödinger by 108.7% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company's stock worth $47,499,000 after acquiring an additional 1,283,949 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Schrödinger by 17.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,279,313 shares of the company's stock valued at $43,968,000 after purchasing an additional 334,131 shares during the period. Finally, State Street Corp boosted its holdings in Schrödinger by 1.8% in the 3rd quarter. State Street Corp now owns 2,155,620 shares of the company's stock valued at $39,987,000 after purchasing an additional 38,972 shares in the last quarter. Hedge funds and other institutional investors 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.