UBS Group Issues Pessimistic Forecast for Schrodinger (NASDAQ:SDGR) Stock Price
by Mitch Edgeman · The Markets DailySchrodinger (NASDAQ:SDGR – Get Free Report) had its price target dropped by equities research analysts at UBS Group from $18.00 to $13.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 4.03% from the stock’s current price.
Other equities research analysts also recently issued reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Schrodinger in a research note on Friday, January 9th. KeyCorp reduced their target price on Schrodinger from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, January 8th. Bank of America raised Schrodinger from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Monday, December 15th. Wall Street Zen upgraded Schrodinger from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, TD Cowen reaffirmed a “buy” rating on shares of Schrodinger in a research report on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Schrodinger presently has a consensus rating of “Hold” and an average target price of $21.13.
Check Out Our Latest Research Report on SDGR
Schrodinger Trading Down 1.6%
Shares of Schrodinger stock traded down $0.20 on Tuesday, reaching $12.50. 418,067 shares of the company were exchanged, compared to its average volume of 1,407,955. The company has a market capitalization of $922.45 million, a price-to-earnings ratio of -8.79 and a beta of 1.57. Schrodinger has a one year low of $11.11 and a one year high of $27.63. The company has a 50-day moving average of $14.13 and a 200 day moving average of $17.27.
Schrodinger (NASDAQ:SDGR – Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.57. The business had revenue of $87.24 million during the quarter, compared to analysts’ expectations of $83.66 million. Schrodinger had a negative net margin of 40.37% and a negative return on equity of 29.47%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned ($0.24) earnings per share. Analysts predict that Schrodinger will post -2.37 earnings per share for the current year.
Insiders Place Their Bets
In related news, CEO Ramy Farid sold 3,661 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $12.91, for a total transaction of $47,263.51. Following the completion of the sale, the chief executive officer owned 330,824 shares in the company, valued at approximately $4,270,937.84. This trade represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 15,340 shares of company stock worth $200,605 in the last three months. 21.00% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA grew its position in shares of Schrodinger by 38.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,072,433 shares of the company’s stock valued at $41,573,000 after acquiring an additional 577,899 shares during the period. Capital Fund Management S.A. bought a new stake in shares of Schrodinger in the 2nd quarter worth approximately $1,486,000. Citigroup Inc. raised its holdings in shares of Schrodinger by 122.5% in the 3rd quarter. Citigroup Inc. now owns 155,209 shares of the company’s stock worth $3,113,000 after purchasing an additional 85,448 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Schrodinger by 24.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,554,569 shares of the company’s stock valued at $91,365,000 after purchasing an additional 904,619 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. grew its holdings in Schrodinger by 7.2% during the second quarter. Nikko Asset Management Americas Inc. now owns 2,591,492 shares of the company’s stock valued at $52,089,000 after purchasing an additional 174,684 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.
About Schrodinger
Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.