Schrödinger (NASDAQ:SDGR) Releases Quarterly Earnings Results, Misses Expectations 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 analysts’ consensus estimates of ($0.40) by ($0.12), Zacks reports. The business 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 business’s revenue for the quarter was down 17.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.86) earnings per share. Schrödinger updated its FY 2024 guidance to EPS.

Schrödinger Trading Up 2.7 %

SDGR traded up $0.61 during trading hours on Wednesday, reaching $22.86. The company’s stock had a trading volume of 527,496 shares, compared to its average volume of 751,652. Schrödinger has a fifty-two week low of $16.67 and a fifty-two week high of $38.00. The business’s 50-day moving average is $18.73 and its 200-day moving average is $20.41.

Insiders Place Their Bets

In other Schrödinger news, insider Margaret Dugan sold 1,531 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $17.78, for a total transaction of $27,221.18. Following the transaction, the insider now directly owns 13,469 shares of the company’s stock, valued at approximately $239,478.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SDGR has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of Schrödinger from $43.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 21st. BMO Capital Markets raised their price target on shares of Schrödinger from $25.00 to $28.00 and gave the stock 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Schrödinger has a consensus rating of “Moderate Buy” and an average target price of $32.90.

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.