Schrodinger (NASDAQ:SDGR) Raised to “Buy” at Bank of America

Schrodinger (NASDAQ:SDGR) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Monday, MarketBeat reports. The brokerage presently has a $24.00 price objective on the stock. Bank of America‘s price objective suggests a potential upside of 33.78% from the stock’s current price.

A number of other equities research analysts have also commented on SDGR. Weiss Ratings reissued a “sell (e+)” rating on shares of Schrodinger in a research report on Tuesday, October 14th. KeyCorp reduced their target price on shares of Schrodinger from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. Morgan Stanley dropped their price target on shares of Schrodinger from $28.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th. The Goldman Sachs Group initiated coverage on shares of Schrodinger in a research report on Monday, September 29th. They issued a “neutral” rating and a $19.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Schrodinger from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Schrodinger presently has a consensus rating of “Hold” and an average price target of $25.71.

Schrodinger Stock Performance

Shares of NASDAQ SDGR opened at $17.94 on Monday. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -7.44 and a beta of 1.56. Schrodinger has a fifty-two week low of $15.99 and a fifty-two week high of $28.47. The firm’s 50-day simple moving average is $18.91 and its 200 day simple moving average is $20.02.

Schrodinger (NASDAQ:SDGR) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.27. Schrodinger had a negative return on equity of 48.24% and a negative net margin of 68.49%.The firm had revenue of $54.32 million during the quarter, compared to analyst estimates of $50.51 million. During the same period in the previous year, the company posted ($0.87) EPS. The company’s revenue for the quarter was up 53.9% on a year-over-year basis. On average, sell-side analysts predict that Schrodinger will post -2.37 EPS for the current year.

Insider Transactions at Schrodinger

In other Schrodinger news, insider Margaret Dugan sold 1,395 shares of Schrodinger stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $21.07, for a total value of $29,392.65. Following the sale, the insider owned 24,574 shares of the company’s stock, valued at approximately $517,774.18. The trade was a 5.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 21.00% of the company’s stock.

Institutional Investors Weigh In On Schrodinger

Several large investors have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Schrodinger by 169.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,357,532 shares of the company’s stock worth $86,018,000 after purchasing an additional 2,737,728 shares during the period. Millennium Management LLC increased its position in Schrodinger by 1,075.8% in the third quarter. Millennium Management LLC now owns 1,551,721 shares of the company’s stock worth $31,128,000 after buying an additional 1,419,750 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of Schrodinger in the first quarter valued at $19,787,000. Lazard Asset Management LLC lifted its position in shares of Schrodinger by 65.3% during the 3rd quarter. Lazard Asset Management LLC now owns 2,346,441 shares of the company’s stock valued at $47,070,000 after buying an additional 927,234 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Schrodinger by 24.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,554,569 shares of the company’s stock valued at $91,365,000 after buying an additional 904,619 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Schrodinger 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.