Schrödinger (NASDAQ:SDGR) Issues Quarterly Earnings Results

Schrödinger (NASDAQ:SDGR) posted its earnings results on Tuesday. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.12), Zacks reports. The business had revenue of $35.30 million for the quarter, compared to analyst estimates of $41.25 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. Schrödinger’s revenue was down 17.1% compared to the same quarter last year. During the same period last year, the business earned ($0.86) EPS. Schrödinger updated its FY 2024 guidance to EPS.

Schrödinger Stock Down 0.7 %

Shares of SDGR stock opened at $22.09 on Thursday. The firm has a 50 day moving average of $18.77 and a two-hundred day moving average of $20.42. The stock has a market capitalization of $1.61 billion, a PE ratio of -9.44 and a beta of 1.50. Schrödinger has a 52 week low of $16.67 and a 52 week high of $38.00.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 21st. BMO Capital Markets lifted their price target on shares of Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.90.

Insider Transactions at Schrödinger

In related news, insider Margaret Dugan sold 1,531 shares of Schrödinger stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total value of $27,221.18. Following the completion of the transaction, the insider now directly owns 13,469 shares in the company, valued at approximately $239,478.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.60% of the company’s stock.

Schrödinger Company Profile

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.