Schrodinger (NASDAQ:SDGR) Given New $21.00 Price Target at UBS Group

Schrodinger (NASDAQ:SDGR) had its price target increased by stock analysts at UBS Group from $19.00 to $21.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price points to a potential downside of 9.17% from the stock’s previous close.

Several other research firms also recently issued reports on SDGR. Zacks Research upgraded Schrodinger from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. BMO Capital Markets lifted their target price on Schrodinger from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, October 12th. TD Cowen boosted their price target on shares of Schrodinger from $20.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, October 13th. Wall Street Zen upgraded shares of Schrodinger from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings raised shares of Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

Schrodinger Stock Performance

Schrodinger stock opened at $23.12 on Tuesday. Schrodinger has a fifty-two week low of $10.94 and a fifty-two week high of $33.78. The firm has a 50 day moving average price of $23.66 and a 200 day moving average price of $17.56. The company has a market capitalization of $1.71 billion, a PE ratio of -31.24 and a beta of 1.62.

Schrodinger (NASDAQ:SDGR) last announced its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.49. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%. The company had revenue of $58.89 million for the quarter, compared to analyst estimates of $47.19 million. During the same quarter in the previous year, the company earned ($0.65) earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts forecast that Schrodinger will post -1.50 earnings per share for the current year.

Insider Buying and Selling at Schrodinger

In other news, insider Karen Akinsanya sold 31,599 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $29.37, for a total transaction of $928,062.63. Following the sale, the insider owned 69,956 shares of the company’s stock, valued at approximately $2,054,607.72. This represents a 31.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Counterpoint Mutual Funds LLC acquired a new position in Schrodinger during the 3rd quarter worth $1,270,000. NorthCrest Asset Manangement LLC acquired a new stake in Schrodinger in the 3rd quarter valued at about $268,000. GAMMA Investing LLC raised its position in Schrodinger by 5.7% in the 3rd quarter. GAMMA Investing LLC now owns 14,353 shares of the company’s stock valued at $446,000 after purchasing an additional 772 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Schrodinger in the 2nd quarter valued at about $102,000. Finally, Squarepoint Ops LLC boosted its stake in shares of Schrodinger by 290.4% in the 2nd quarter. Squarepoint Ops LLC now owns 209,123 shares of the company’s stock valued at $3,398,000 after buying an additional 155,556 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

About Schrodinger

Schrödinger, Inc is a technology company that develops computational software for pharmaceutical and materials research. Its platform uses physics-based modeling, machine learning and other computational methods to help scientists design and optimize molecules, evaluate potential drug candidates and investigate material properties.

The company’s software offerings include molecular modeling, simulation, predictive modeling and collaborative research tools, such as Maestro, Desmond, Jaguar, FEP+ and LiveDesign.