Schrödinger (NASDAQ:SDGR) Hits New 12-Month Low at $18.46

Schrödinger, Inc. (NASDAQ:SDGR)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $18.46 and last traded at $18.63, with a volume of 46907 shares trading hands. The stock had previously closed at $18.70.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SDGR. KeyCorp lowered their price target on Schrödinger from $38.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. Craig Hallum lowered their price target on Schrödinger from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Citigroup lowered their price target on Schrödinger from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. The Goldman Sachs Group lowered their target price on Schrödinger from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, March 1st. Finally, Bank of America lowered their target price on Schrödinger from $38.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.89.

Schrödinger Price Performance

The company has a market cap of $1.41 billion, a P/E ratio of -10.35 and a beta of 1.53. The stock has a 50-day moving average of $22.16 and a 200 day moving average of $26.57.

Schrödinger (NASDAQ:SDGR) last released its earnings results on Wednesday, May 1st. The company reported ($0.76) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.76). Schrödinger had a negative return on equity of 29.25% and a negative net margin of 75.94%. The firm had revenue of $36.60 million for the quarter, compared to analysts’ expectations of $41.23 million. Sell-side analysts predict that Schrödinger, Inc. will post -2.7 EPS for the current year.

Hedge Funds Weigh In On Schrödinger

Institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Schrödinger by 60.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,300,750 shares of the company’s stock valued at $82,367,000 after acquiring an additional 865,867 shares in the last quarter. Fred Alger Management LLC grew its holdings in Schrödinger by 2,504.0% during the third quarter. Fred Alger Management LLC now owns 691,840 shares of the company’s stock worth $19,558,000 after buying an additional 665,272 shares in the last quarter. Iron Triangle Partners LP bought a new stake in Schrödinger during the fourth quarter worth $16,775,000. Norges Bank bought a new stake in Schrödinger during the fourth quarter worth $8,530,000. Finally, Tocqueville Asset Management L.P. grew its holdings in Schrödinger by 35.5% during the first quarter. Tocqueville Asset Management L.P. now owns 899,750 shares of the company’s stock worth $24,293,000 after buying an additional 235,785 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

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.