Brokers Issue Forecasts for Schrödinger, Inc.’s Q2 2024 Earnings (NASDAQ:SDGR)

Schrödinger, Inc. (NASDAQ:SDGR) – Equities research analysts at Leerink Partnrs issued their Q2 2024 earnings per share (EPS) estimates for Schrödinger in a report released on Tuesday, July 2nd. Leerink Partnrs analyst M. Foroohar forecasts that the company will earn ($0.97) per share for the quarter. Leerink Partnrs has a “Strong-Buy” rating on the stock. The consensus estimate for Schrödinger’s current full-year earnings is ($2.70) per share. Leerink Partnrs also issued estimates for Schrödinger’s Q3 2024 earnings at ($1.00) EPS, Q4 2024 earnings at ($0.59) EPS, FY2024 earnings at ($3.33) EPS, FY2025 earnings at ($1.08) EPS, FY2026 earnings at ($3.73) EPS, FY2027 earnings at ($1.23) EPS and FY2028 earnings at ($1.72) EPS.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.76) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.76). Schrödinger had a negative net margin of 75.94% and a negative return on equity of 29.25%. The business had revenue of $36.60 million during the quarter, compared to analyst estimates of $41.23 million.

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

Schrödinger Stock Performance

NASDAQ SDGR opened at $20.10 on Thursday. The company has a 50-day simple moving average of $21.78 and a two-hundred day simple moving average of $26.14. Schrödinger has a 12-month low of $18.21 and a 12-month high of $59.24.

Hedge Funds Weigh In On Schrödinger

A number of institutional investors and hedge funds have recently made changes to their positions in SDGR. International Assets Investment Management LLC increased its position in shares of Schrödinger by 3,480.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,790 shares of the company’s stock valued at $64,000 after acquiring an additional 1,740 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Schrödinger during the fourth quarter valued at approximately $67,000. PNC Financial Services Group Inc. increased its position in shares of Schrödinger by 186.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock valued at $76,000 after acquiring an additional 1,385 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Schrödinger by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,244 shares of the company’s stock valued at $152,000 after acquiring an additional 1,076 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Schrödinger during the fourth quarter valued at approximately $153,000. 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.