Schrodinger (SDGR) PT Raised to $117 at BMO Capital

January 25, 2021 7:27 AM EST
Get Alerts SDGR Hot Sheet
Price: $73.26 --0%

Rating Summary:
    3 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 4 | New: 62
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BMO Capital analyst Do Kim raised the price target on Schrodinger (NASDAQ: SDGR) to $117.00 (from $97.00) while maintaining an Outperform rating.

The analyst commented, "We raise our target price to $117 from $97, as we increase drug discovery revenues to reflect higher economics for internal programs based on favorable SDGR4/5 licensing terms in the BMS agreement. We expect IND-enabling studies for at least one internal program (CDC7, WEE1, MALT1) in 1H21, supporting a potential first-in-human study in 1Q22. On the software side, we expect 4Q20 step-up due to seasonality, with upward licensing revisions supporting growing adoption and maintaining positive momentum heading into 2021."

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