Schrodinger (NASDAQ:SDGR) Coverage Initiated at Morgan Stanley

Investment analysts at Morgan Stanley started coverage on shares of Schrodinger (NASDAQ:SDGR) in a research note issued to investors on Thursday. The brokerage set an “equal weight” rating and a $28.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 33.59% from the company’s current price.

Separately, KeyCorp increased their target price on Schrodinger from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, April 16th.

Schrodinger Stock Performance

Schrodinger stock opened at $20.96 on Thursday. The stock has a market cap of $1.54 billion, a P/E ratio of -7.97 and a beta of 1.58. Schrodinger has a fifty-two week low of $16.60 and a fifty-two week high of $28.47. The firm’s fifty day moving average price is $22.66 and its 200-day moving average price is $22.30.

Schrodinger (NASDAQ:SDGR) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.01). The firm had revenue of $59.55 million during the quarter, compared to the consensus estimate of $54.60 million. Schrodinger had a negative return on equity of 44.74% and a negative net margin of 83.39%. The company’s revenue for the quarter was up 62.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.86) EPS. Sell-side analysts predict that Schrodinger will post -2.37 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Karen Akinsanya sold 16,723 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $25.09, for a total value of $419,580.07. Following the transaction, the insider owned 15,625 shares of the company’s stock, valued at $392,031.25. This represents a 51.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SDGR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Schrodinger by 169.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,357,532 shares of the company’s stock valued at $86,018,000 after buying an additional 2,737,728 shares during the last quarter. Nikko Asset Management Americas Inc. grew its stake in shares of Schrodinger by 108.7% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company’s stock valued at $47,499,000 after buying an additional 1,283,949 shares during the last quarter. American Century Companies Inc. bought a new position in shares of Schrodinger during the first quarter valued at about $19,787,000. Stephens Investment Management Group LLC grew its stake in shares of Schrodinger by 22.5% during the first quarter. Stephens Investment Management Group LLC now owns 1,969,941 shares of the company’s stock valued at $38,887,000 after buying an additional 362,285 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Schrodinger by 17.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,279,313 shares of the company’s stock valued at $43,968,000 after buying an additional 334,131 shares during the last quarter. 79.05% of the stock is owned by institutional investors.

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.