Schrodinger price target lowered to $35 from $40 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Schrodinger to $35 from $40 and keeps a Buy rating on the shares. The firm’s numbers have come down for FY24 due to management believing their drug discovery revenue is expected to be “similar to lower than in FY22” as they become more selective on partnering, the analyst tells investors in a research note.