FY2024 EPS Estimates for Schrödinger Cut by Leerink Partnrs

Schrödinger, Inc. (NASDAQ:SDGR) – Equities research analysts at Leerink Partnrs cut their FY2024 EPS estimates for shares of Schrödinger in a note issued to investors on Tuesday, November 12th. Leerink Partnrs analyst M. Foroohar now forecasts that the company will earn ($1.99) per share for the year, down from their previous estimate of ($1.78). The consensus estimate for Schrödinger’s current full-year earnings is ($2.19) per share. Leerink Partnrs also issued estimates for Schrödinger’s Q4 2024 earnings at $0.03 EPS, FY2025 earnings at ($2.10) EPS, FY2026 earnings at ($2.44) EPS, FY2027 earnings at ($2.60) EPS and FY2028 earnings at ($0.89) EPS.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). The company had revenue of $35.30 million during the quarter, compared to the consensus estimate of $41.25 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. Schrödinger’s quarterly revenue was down 17.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.86) earnings per share.

A number of other brokerages have also recently commented on SDGR. BMO Capital Markets boosted their target price on shares of Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday. Morgan Stanley dropped their target price on shares of Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 21st. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.90.

Schrödinger Stock Down 9.0 %

NASDAQ SDGR opened at $18.54 on Friday. The firm has a market capitalization of $1.35 billion, a PE ratio of -7.92 and a beta of 1.50. The stock’s 50 day moving average is $18.72 and its 200 day moving average is $20.38. Schrödinger has a twelve month low of $16.67 and a twelve month high of $38.00.

Insider Buying and Selling

In other Schrödinger news, insider Margaret Dugan sold 1,531 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $17.78, for a total transaction of $27,221.18. Following the completion of the sale, the insider now directly owns 13,469 shares of the company’s stock, valued at approximately $239,478.82. This represents a 10.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Schrödinger

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Schrödinger by 0.5% during the first quarter. Vanguard Group Inc. now owns 6,809,024 shares of the company’s stock valued at $183,844,000 after purchasing an additional 32,393 shares during the period. Rubric Capital Management LP grew its position in shares of Schrödinger by 17.7% during the third quarter. Rubric Capital Management LP now owns 3,685,503 shares of the company’s stock worth $68,366,000 after purchasing an additional 555,503 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Schrödinger by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,191,054 shares of the company’s stock valued at $40,644,000 after purchasing an additional 29,920 shares during the period. State Street Corp lifted its holdings in Schrödinger by 1.8% in the 3rd quarter. State Street Corp now owns 2,155,620 shares of the company’s stock worth $39,987,000 after purchasing an additional 38,972 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Schrödinger by 58.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,945,182 shares of the company’s stock worth $36,083,000 after purchasing an additional 717,059 shares during the period. Institutional investors own 79.05% of the company’s stock.

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.