Schrodinger price target raised to $51 from $48 at Citi

Citi analyst David Lebowitz raised the firm’s price target on Schrodinger to $51 from $48 and keeps a Buy rating on the shares. Takeda recently acquired a tyrosine kinase 2 inhibitor co-developed by Schrodinger and Nimbus Therapeutics, and having an equity stake in Nimbus, Schrodinger is set to receive a significant cash distribution after the transaction closes, the analyst tells investors in a research note. Citi incorporated $110M gain in 2023 related to Nimbus transaction for Schrodinger.