Fly News Breaks for March 2, 2020
Mar 2, 2020 | 05:13 EDT
BMO Capital analyst Do Kim initiated coverage of Schrodinger with an Outperform rating and $65 price target. The company's "industry-leading" computational drug discovery software provides value in two high growth sectors, software and drug discovery, Kim tells investors in a research note. The analyst expects Schrodinger's software revenues to accelerate as advancements in computing power compel biopharma to transition discovery to more productive and cost-saving in-silico approaches. The "steady" software business provides valuation support and funds for the less predictable drug development business, says Kim.
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