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Why Schrödinger Shares Are Rising

Schrödinger Inc (NASDAQ: SDGR) shares are trading higher by 4.8% at $62.58 after Morgan Stanley upgraded the stock from Equal-Weight to Overweight and announced an $82 price target.

Benzinga · 09/01/2021 15:53

Schrödinger Inc (NASDAQ:SDGR) shares are trading higher by 4.8% at $62.58 after Morgan Stanley upgraded the stock from Equal-Weight to Overweight and announced an $82 price target.

Schrödinger shares were trading lower last month after the company reported worse-than-expected second-quarter EPS and sales results. The company also issued FY21 sales guidance with a midpoint below analyst estimates.

Schrödinger is a healthcare-based software company. Schrödinger generates revenue from the sales of software solutions and from research funding and milestone payments from its drug discovery collaborations.

Schrödinger has a 52-week high of $117.00 and a 52-week low of $46.27.