BUZZ-Drug developer Schrodinger up after BofA upgrades to 'buy'
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Schrodinger's shares rose 1% to $18.24 after BofA upgraded the stock to 'buy' from 'neutral'. The brokerage sees a favorable backdrop for pharma and R&D spending, with Schrodinger's revenues consistently exceeding expectations. Despite near-term budget pressures, R&D rebound could boost platform adoption. Currently, 3 of 9 brokerages rate the stock 'buy', 4 'hold', and 2 'sell'. The median price target is $28, with the stock down ~6% YTD.
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