Schrodinger price target raised to $28 from $25 at BMO Capital

BMO Capital raised the firm’s price target on Schrodinger (SDGR) to $28 from $25 and keeps an Outperform rating on the shares. The company reported a “good-enough” commercial quarter, while its new collaboration announcement clears the path to clinical readouts coming in 2025, the analyst tells investors in a research note. The announcement of an expanded software agreement and drug development collaboration with Novartis (NVS) also drives investor confidence in Schrodinger’s commercial execution, BMO added.