BMO Capital analyst Evan Seigerman lowered the firm’s price target on Schrodinger to $67 from $78 but keeps an Outperform rating on the shares after its Q2 earnings miss. The delay in drug discovery revenue highlights unpredictability in revenue timing, but Schrodinger’s core business remains intact, the analyst tells investors in a research note. The outlook for Schrodinger remains favorable, despite speed bumps in non-clinical base business, BMO adds.
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