Schrödinger (NASDAQ:SDGR) Shares Up 7.7% - What's Next?

Schrödinger, Inc. (NASDAQ:SDGR - Get Free Report) traded up 7.7% on Thursday . The company traded as high as $22.96 and last traded at $23.37. 287,377 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 980,026 shares. The stock had previously closed at $21.70.

Wall Street Analyst Weigh In

SDGR has been the subject of a number of research analyst reports. KeyCorp lifted their price target on Schrödinger from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Piper Sandler dropped their target price on shares of Schrödinger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, BMO Capital Markets increased their price target on shares of Schrödinger from $25.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Schrödinger currently has a consensus rating of "Buy" and a consensus target price of $32.29.

Schrödinger Price Performance

The stock has a market capitalization of $1.55 billion, a PE ratio of -9.08 and a beta of 1.61. The firm's 50 day simple moving average is $22.37 and its 200 day simple moving average is $20.62.

Schrödinger (NASDAQ:SDGR - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.55) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.20). The business had revenue of $88.32 million during the quarter, compared to analysts' expectations of $83.20 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. Analysts expect that Schrödinger, Inc. will post -2.37 earnings per share for the current fiscal year.

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Institutional Investors Weigh In On Schrödinger

Hedge funds and other institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC increased its stake in Schrödinger by 20.5% in the 3rd quarter. Private Advisor Group LLC now owns 12,150 shares of the company's stock worth $225,000 after purchasing an additional 2,065 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Schrödinger by 5.0% in the third quarter. Harbor Capital Advisors Inc. now owns 13,059 shares of the company's stock worth $242,000 after purchasing an additional 622 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Schrödinger by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,191,054 shares of the company's stock valued at $40,644,000 after buying an additional 29,920 shares during the last quarter. Pier 88 Investment Partners LLC raised its holdings in Schrödinger by 83.6% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 77,130 shares of the company's stock valued at $1,431,000 after buying an additional 35,120 shares during the last quarter. Finally, KBC Group NV boosted its position in Schrödinger by 45.4% during the 3rd quarter. KBC Group NV now owns 2,508 shares of the company's stock valued at $47,000 after buying an additional 783 shares during the period. 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.