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 research note issued to investors on Tuesday, Zacks.com reports.

SDGR has been the topic of several other reports. SVB Leerink initiated coverage on Schrödinger in a research note on Tuesday. They issued an “outperform” rating and a $29.00 price objective on the stock. Citigroup dropped their target price on Schrödinger from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Craig Hallum dropped their target price on Schrödinger from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Three investment 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 stock. Based on data from MarketBeat, Schrödinger has an average rating of “Moderate Buy” and a consensus target price of $39.70.

Schrödinger Stock Performance

SDGR opened at $20.33 on Tuesday. The firm has a market cap of $1.48 billion, a P/E ratio of -10.81 and a beta of 1.51. Schrödinger has a 52-week low of $18.21 and a 52-week high of $59.24. The business’s fifty day moving average is $21.85 and its 200-day moving average is $26.19.

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

Hedge Funds Weigh In On Schrödinger

A number of hedge funds have recently made changes to their positions in SDGR. GAMMA Investing LLC increased its holdings in Schrödinger by 49.5% in the second quarter. GAMMA Investing LLC now owns 2,124 shares of the company’s stock worth $41,000 after purchasing an additional 703 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Schrödinger by 3,480.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,790 shares of the company’s stock worth $64,000 after purchasing an additional 1,740 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Schrödinger by 186.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock worth $76,000 after purchasing an additional 1,385 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Schrödinger by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,244 shares of the company’s stock worth $152,000 after purchasing an additional 1,076 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Schrödinger in the fourth quarter worth approximately $153,000. 79.05% of the stock is currently 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.