Schrödinger (NASDAQ:SDGR) Stock Price Up 6.2% – Should You Buy?

Schrödinger, Inc. (NASDAQ:SDGR) traded up 6.2% during mid-day trading on Tuesday . The stock traded as high as $19.13 and last traded at $19.03. 458,073 shares traded hands during trading, a decline of 38% from the average session volume of 743,582 shares. The stock had previously closed at $17.92.

Analysts Set New Price Targets

A number of research analysts have recently commented on SDGR shares. Leerink Partners started coverage on shares of Schrödinger in a research report on Tuesday, July 2nd. They issued an “outperform” rating and a $29.00 price objective for the company. BMO Capital Markets lowered their price target on Schrödinger from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Leerink Partnrs upgraded Schrödinger to a “strong-buy” rating in a research note on Tuesday, July 2nd. KeyCorp reduced their target price on Schrödinger from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Finally, Morgan Stanley dropped their price target on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Schrödinger presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.

Schrödinger Stock Performance

The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -7.10 and a beta of 1.50. The business has a fifty day simple moving average of $19.29 and a 200 day simple moving average of $21.20.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.11. Schrödinger had a negative net margin of 100.42% and a negative return on equity of 38.38%. The business had revenue of $47.33 million for the quarter, compared to analyst estimates of $40.19 million. On average, sell-side analysts forecast that Schrödinger, Inc. will post -2.19 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Margaret Dugan sold 1,531 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total transaction of $27,221.18. Following the sale, the insider now directly owns 13,469 shares of the company’s stock, valued at approximately $239,478.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is owned by company insiders.

Institutional Trading of Schrödinger

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in Schrödinger by 22.7% during the first quarter. Russell Investments Group Ltd. now owns 218,564 shares of the company’s stock valued at $5,901,000 after purchasing an additional 40,434 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Schrödinger by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 6,776,631 shares of the company’s stock valued at $242,603,000 after purchasing an additional 77,830 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Schrödinger by 2,868.8% during the 2nd quarter. Millennium Management LLC now owns 487,831 shares of the company’s stock worth $9,435,000 after buying an additional 471,399 shares in the last quarter. PNC Financial Services Group Inc. lifted its position 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 buying an additional 1,385 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Schrödinger by 7.5% in the second quarter. Bank of New York Mellon Corp now owns 500,461 shares of the company’s stock valued at $9,679,000 after buying an additional 35,036 shares in the last quarter. 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.