Schrödinger, Inc. (NASDAQ:SDGR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Schrödinger, Inc. (NASDAQ:SDGR) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $33.44.

A number of research firms recently commented on SDGR. KeyCorp decreased their price objective on Schrödinger from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Leerink Partners began coverage on Schrödinger in a report on Tuesday, July 2nd. They set an “outperform” rating and a $29.00 price target for the company. Leerink Partnrs upgraded shares of Schrödinger to a “strong-buy” rating in a report on Tuesday, July 2nd. Finally, Morgan Stanley decreased their target price on shares of Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 21st.

Schrödinger Price Performance

NASDAQ:SDGR opened at $20.59 on Friday. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -10.95 and a beta of 1.51. The company’s 50-day moving average is $20.87 and its two-hundred day moving average is $22.84. Schrödinger has a 1-year low of $18.02 and a 1-year high of $38.00.

Institutional Trading of Schrödinger

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its stake in Schrödinger by 22.7% during the 1st quarter. Russell Investments Group Ltd. now owns 218,564 shares of the company’s stock worth $5,901,000 after buying an additional 40,434 shares during the period. Vanguard Group Inc. raised its stake in shares of Schrödinger by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 6,776,631 shares of the company’s stock valued at $242,603,000 after acquiring an additional 77,830 shares in the last quarter. Parkman Healthcare Partners LLC boosted its holdings in Schrödinger by 9.9% in the fourth quarter. Parkman Healthcare Partners LLC now owns 405,232 shares of the company’s stock valued at $14,507,000 after purchasing an additional 36,578 shares during the period. PNC Financial Services Group Inc. grew its stake in 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 in the last quarter. Finally, Iron Triangle Partners LP purchased a new stake in Schrödinger during the 4th quarter worth about $16,775,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

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.