Schrödinger (NASDAQ:SDGR) Raised to Strong-Buy at Leerink Partnrs

Schrödinger (NASDAQ:SDGR) was upgraded by research analysts at Leerink Partnrs to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Citigroup decreased their price target on shares of Schrödinger from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. SVB Leerink assumed coverage on shares of Schrödinger in a research note on Tuesday. They issued an “outperform” rating and a $29.00 target price on the stock. Finally, Craig Hallum reduced their target price on shares of Schrödinger from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.70.

Schrödinger Price Performance

SDGR opened at $20.33 on Tuesday. Schrödinger has a fifty-two week low of $18.21 and a fifty-two week high of $59.24. The firm’s fifty day moving average price is $21.85 and its two-hundred day moving average price is $26.19. The company has a market capitalization of $1.48 billion, a P/E ratio of -10.81 and a beta of 1.51.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.76) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.76). Schrödinger had a negative net margin of 75.94% and a negative return on equity of 29.25%. The firm had revenue of $36.60 million for the quarter, compared to the consensus estimate of $41.23 million. On average, equities research analysts expect that Schrödinger will post -2.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC bought a new position in shares of Schrödinger in the fourth quarter valued at about $67,000. ARK Investment Management LLC raised its holdings in shares of Schrödinger by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 3,053,521 shares of the company’s stock valued at $109,316,000 after buying an additional 217,618 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Schrödinger by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 6,776,631 shares of the company’s stock valued at $242,603,000 after buying an additional 77,830 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Schrödinger by 60.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,300,750 shares of the company’s stock worth $82,367,000 after purchasing an additional 865,867 shares during the last quarter. Finally, Parkman Healthcare Partners LLC raised its holdings in Schrödinger by 9.9% during the 4th quarter. Parkman Healthcare Partners LLC now owns 405,232 shares of the company’s stock worth $14,507,000 after purchasing an additional 36,578 shares during the last quarter. 79.05% of the stock is owned by institutional investors.

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.