Schrödinger (NASDAQ:SDGR) Posts Earnings Results, Misses Estimates By $0.12 EPS

Schrödinger (NASDAQ:SDGR) issued its quarterly earnings results on Tuesday. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.12), Zacks reports. The company had revenue of $35.30 million for the quarter, compared to analyst estimates of $41.25 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The firm’s quarterly revenue was down 17.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.86) EPS. Schrödinger updated its FY 2024 guidance to EPS.

Schrödinger Stock Up 2.5 %

SDGR stock traded up $0.56 during midday trading on Wednesday, hitting $22.81. The company’s stock had a trading volume of 482,678 shares, compared to its average volume of 751,449. The company’s fifty day moving average price is $18.73 and its 200 day moving average price is $20.41. Schrödinger has a twelve month low of $16.67 and a twelve month high of $38.00.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Morgan Stanley decreased their price target on shares of Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 21st. BMO Capital Markets lifted their target price on Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Schrödinger has a consensus rating of “Moderate Buy” and an average price target of $32.90.

Insider Transactions at Schrödinger

In related news, insider Margaret Dugan sold 1,531 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total transaction of $27,221.18. Following the sale, the insider now owns 13,469 shares in the company, valued at approximately $239,478.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.60% of the company’s stock.

Schrödinger 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.