Schrödinger (NASDAQ:SDGR) Receives New Coverage from Analysts at SVB Leerink

SVB Leerink began coverage on shares of Schrödinger (NASDAQ:SDGR) in a report issued on Tuesday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $29.00 target price on the stock.

Several other equities research analysts also recently issued reports on SDGR. Craig Hallum decreased their price target on Schrödinger from $35.00 to $30.00 and set a buy rating for the company in a report on Thursday, May 2nd. Citigroup reduced their price objective on Schrödinger from $39.00 to $37.00 and set a buy rating for the company in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $39.70.

Schrödinger Stock Up 8.4 %

NASDAQ SDGR opened at $20.33 on Tuesday. The company has a market cap of $1.48 billion, a price-to-earnings 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 has a 50 day moving average price of $21.85 and a 200-day moving average price of $26.19.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.76) EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $41.23 million. On average, equities research analysts anticipate that Schrödinger will post -2.7 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SDGR. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Schrödinger by 60.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,300,750 shares of the company’s stock valued at $82,367,000 after buying an additional 865,867 shares during the last quarter. Iron Triangle Partners LP purchased a new stake in Schrödinger during the 4th quarter worth about $16,775,000. Norges Bank purchased a new stake in Schrödinger during the 4th quarter worth about $8,530,000. Tocqueville Asset Management L.P. lifted its holdings in Schrödinger by 35.5% during the 1st quarter. Tocqueville Asset Management L.P. now owns 899,750 shares of the company’s stock worth $24,293,000 after purchasing an additional 235,785 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Schrödinger by 1,137.3% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 248,700 shares of the company’s stock valued at $9,159,000 after acquiring an additional 228,600 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

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.