Schrodinger (NASDAQ:SDGR) Upgraded at Bank of America

Schrodinger (NASDAQ:SDGR) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued on Monday,Benzinga reports. The brokerage currently has a $24.00 price objective on the stock. Bank of America‘s price objective indicates a potential upside of 32.96% from the company’s previous close.

Several other research analysts have also recently commented on the stock. Morgan Stanley lowered their price target on shares of Schrodinger from $28.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, August 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Schrodinger in a research report on Tuesday, October 14th. The Goldman Sachs Group assumed coverage on shares of Schrodinger in a research note on Monday, September 29th. They set a “neutral” rating and a $19.00 target price for the company. KeyCorp cut their price target on Schrodinger from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Schrodinger from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.71.

Schrodinger Price Performance

Shares of NASDAQ SDGR opened at $18.05 on Monday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -7.49 and a beta of 1.57. The stock’s 50-day moving average is $19.02 and its two-hundred day moving average is $20.07. Schrodinger has a 1-year low of $15.99 and a 1-year high of $28.47.

Schrodinger (NASDAQ:SDGR) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.27. Schrodinger had a negative return on equity of 48.24% and a negative net margin of 68.49%.The business had revenue of $54.32 million during the quarter, compared to the consensus estimate of $50.51 million. During the same period in the previous year, the company posted ($0.87) earnings per share. The business’s revenue for the quarter was up 53.9% on a year-over-year basis. Equities research analysts anticipate that Schrodinger will post -2.37 earnings per share for the current fiscal year.

Insider Activity at Schrodinger

In other news, insider Margaret Dugan sold 1,395 shares of the business’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $21.07, for a total value of $29,392.65. Following the completion of the sale, the insider directly owned 24,574 shares of the company’s stock, valued at approximately $517,774.18. The trade was a 5.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 21.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in Schrodinger by 347.4% in the second quarter. Farther Finance Advisors LLC now owns 1,284 shares of the company’s stock valued at $26,000 after buying an additional 997 shares during the last quarter. Bayforest Capital Ltd purchased a new position in shares of Schrodinger during the second quarter worth approximately $30,000. State of Wyoming acquired a new position in shares of Schrodinger in the 2nd quarter valued at $39,000. Aster Capital Management DIFC Ltd raised its position in Schrodinger by 212.4% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,943 shares of the company’s stock valued at $39,000 after purchasing an additional 1,321 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its position in Schrodinger by 110.4% in the 3rd quarter. SBI Securities Co. Ltd. now owns 2,127 shares of the company’s stock valued at $43,000 after purchasing an additional 1,116 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Schrodinger 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.