Piper Sandler Cuts Schrödinger (NASDAQ:SDGR) Price Target to $45.00

Schrödinger (NASDAQ:SDGR) had its target price cut by Piper Sandler from $50.00 to $45.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on the company. BMO Capital Markets increased their price target on Schrödinger from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. KeyCorp increased their target price on shares of Schrödinger from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $32.29.

Schrödinger Price Performance

Shares of SDGR stock opened at $22.31 on Thursday. The company has a market capitalization of $1.63 billion, a PE ratio of -9.53 and a beta of 1.61. The firm’s 50-day moving average is $22.34 and its two-hundred day moving average is $20.60. Schrödinger has a 12 month low of $16.67 and a 12 month high of $29.15.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.20). Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The firm had revenue of $88.32 million for the quarter, compared to analysts’ expectations of $83.20 million. Sell-side analysts forecast that Schrödinger will post -2.37 EPS for the current year.

Hedge Funds Weigh In On Schrödinger

Several institutional investors have recently bought and sold shares of SDGR. Point72 Hong Kong Ltd purchased a new position in shares of Schrödinger in the fourth quarter valued at approximately $27,000. KBC Group NV lifted its holdings in Schrödinger by 45.4% during the 3rd quarter. KBC Group NV now owns 2,508 shares of the company’s stock worth $47,000 after buying an additional 783 shares in the last quarter. Paradigm Asset Management Co. LLC purchased a new position in Schrödinger in the 4th quarter valued at approximately $50,000. Quarry LP grew its stake in shares of Schrödinger by 1,150.0% in the third quarter. Quarry LP now owns 2,825 shares of the company’s stock worth $52,000 after acquiring an additional 2,599 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Schrödinger by 87.5% during the fourth quarter. GAMMA Investing LLC now owns 2,796 shares of the company’s stock worth $54,000 after acquiring an additional 1,305 shares during the period. 79.05% of the stock is owned by institutional investors and hedge funds.

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.