Schrödinger (NASDAQ:SDGR) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Schrödinger (NASDAQ:SDGR) from a strong sell rating to a hold rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “Schrödinger Inc. provides computational platforms to accelerate drug discovery and materials design deployed by biopharmaceutical and industrial companies, academic institutions and government laboratories. Schrödinger Inc. is based in NEW YORK. “

Several other research analysts have also recently weighed in on SDGR. Berenberg Bank began coverage on Schrödinger in a research note on Wednesday. They issued a buy rating and a $91.00 price target for the company. Morgan Stanley raised Schrödinger from an equal weight rating to an overweight rating and set a $82.00 price objective for the company in a report on Wednesday, September 1st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $86.00.

NASDAQ SDGR opened at $54.00 on Wednesday. The stock’s 50 day moving average is $58.74 and its 200 day moving average is $67.40. The firm has a market capitalization of $3.82 billion, a PE ratio of -87.10 and a beta of 1.00. Schrödinger has a twelve month low of $47.59 and a twelve month high of $117.00.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings results on Thursday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.20). Schrödinger had a negative return on equity of 6.73% and a negative net margin of 34.75%. The business had revenue of $29.78 million during the quarter, compared to analysts’ expectations of $30.20 million. On average, research analysts predict that Schrödinger will post -1.2 EPS for the current year.

In other news, major shareholder David E. Shaw sold 29,000 shares of the company’s stock in a transaction dated Friday, July 16th. The stock was sold at an average price of $67.05, for a total value of $1,944,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Lorne Abel sold 15,602 shares of the company’s stock in a transaction dated Monday, September 13th. The stock was sold at an average price of $61.75, for a total value of $963,423.50. The disclosure for this sale can be found here. Insiders have sold 109,057 shares of company stock valued at $7,285,651 in the last three months. 5.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stephens Inc. AR bought a new position in shares of Schrödinger in the first quarter worth about $29,000. Sandy Spring Bank lifted its position in shares of Schrödinger by 135.3% in the second quarter. Sandy Spring Bank now owns 400 shares of the company’s stock worth $30,000 after buying an additional 230 shares in the last quarter. Koshinski Asset Management Inc. purchased a new stake in shares of Schrödinger in the third quarter worth about $49,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Schrödinger in the second quarter worth about $66,000. Finally, Lazard Asset Management LLC lifted its position in shares of Schrödinger by 23.6% in the first quarter. Lazard Asset Management LLC now owns 999 shares of the company’s stock worth $76,000 after buying an additional 191 shares in the last quarter. 55.29% of the stock is owned by hedge funds and other institutional investors.

Schrödinger Company Profile

Schrödinger, Inc provides physics-based software platform that enables discovery of novel molecules for drug development and materials applications. The company operates through two segments, Software and Drug Discovery. The Software segment is focused on selling its software for drug discovery in the life sciences industry, as well as to customers in materials science industries.

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