Schrodinger price target raised to $52 from $38 at Morgan Stanley

Morgan Stanley analyst Vikram Purohit raised the firm’s price target on Schrodinger to $52 from $38 and keeps an Equal Weight rating on the shares. The firm has adjusted its sum-of-the-parts valuation to reflect heightened market valuation as it argues that recent interest in AI and tech-enabled drug development, which it expects will persist in the near-to-mid-term, “appears to have set a new floor” for shares.