Evan Seigerman, an analyst from BMO Capital, maintained the Buy rating on Schrodinger (SDGR – Research Report). The associated price target remains the same with $32.00.
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Evan Seigerman has given his Buy rating due to a combination of factors including the promising data from Schrödinger’s Phase 1 study of SGR-1505 in B-cell malignancies. The study demonstrated that SGR-1505 is well tolerated with no dose-limiting toxicities and showed early responses in a heavily refractory patient population. The safety profile of SGR-1505 is particularly noteworthy, as it appears to be differentiated from other agents like JNJ-67856633, with no severe hyperbilirubinemia events reported.
Seigerman is also optimistic about the potential for Phase 2 dose selection and combination partnerships, as well as the upcoming data for Schrödinger’s other pipeline programs expected later in the year. The company’s focus on internally developed programs and its computational drug discovery platform, which is anticipated to disrupt the biopharma industry, further supports the Buy rating. These elements combined suggest a positive outlook for Schrödinger’s future growth and development in the biopharmaceutical sector.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $39.00 price target.