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Schrodinger's stock has performed well this year due to AI hype and strength in its drug discovery business. While the company appears attractively valued from a long-term perspective, the tight financing environment is currently a headwind. Investor sentiment is likely to ebb and flow along with broader interest in AI, creating downside risk in the near term.
Many investors, including a significant number of very wealthy individuals and institutions, are becoming enthralled with AI stocks. According to Goldman Sachs (NYSE: GS ), up to $200 billion could be poured into the technology by 2025.
Second-quarter revenue was down 9% year over year. Schrödinger increased revenue guidance for software revenue but decreased it for drug discovery.
Schrodinger, Inc. (SDGR) came out with a quarterly loss of $0.21 per share versus the Zacks Consensus Estimate of a loss of $0.43. This compares to loss of $0.62 per share a year ago.
But some stocks in the biotech category are rising for a reason that's more common with techs, such as chipmaker Nvidia Corp. NASDAQ: NVDA or Microsoft Corp. NASDAQ: MSFT, which has made a significant investment in OpenAI, developer of ChatGPT.
Recursion Pharmaceuticals just got Nvidia on board with its vision of AI for R&D. Ginkgo Bioworks is pairing AI with laboratory robotics to streamline R&D, too.
NEW YORK--(BUSINESS WIRE)--Schrödinger (Nasdaq: SDGR), whose physics-based computational platform is transforming the way therapeutics and materials are discovered, will report its second quarter 2023 financial results on Wednesday, August 2, 2023, after the financial markets close. The company will host a conference call and webcast at 4:30 p.m. ET. The live webcast can be accessed under "News & Events" in the investors section of Schrödinger's website, https://ir.schrodinger.com/news-and-.
Schrödinger and Recursion Pharmaceuticals use AI to improve drug development. Neither one has proven its business model to be viable yet.
Schrödinger's stock is riding the surge of interest in AI. Its drug discovery software is already bringing in money.
Goldman Sachs recently asserted “that AI adoption could boost productivity growth by 1.5 percentage points per year over a 10-year period.” The venerable firm's estimate shows how tremendously valuable the technology can be to many companies.