Benzinga | Sep 1, 2021 03:53PM EDT

Why Schrdinger Shares Are Rising

Schr?dinger 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.

Schr?dinger 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.

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

Schr?dinger has a 52-week high of $117.00 and a 52-week low of $46.27.