12 Best Growth Stocks to Buy Now

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5. Cadence Design Systems Inc. (NASDAQ:CDNS)

Number of Hedge Fund Holders: 68

Cadence Design Systems Inc. (NASDAQ:CDNS) is one of the best growth stocks to buy now. On September 25, Cadence Molecular Sciences (or OpenEye), which is a business unit of Cadence Design Systems, announced the launch of ROCS X, an AI-enabled virtual screening solution. The new solution is designed to allow scientists to conduct 3D searches of trillions of synthetically accessible drug-like molecules, unlocking multi-trillion molecule virtual screening capability.

ROCS X achieves its breakthrough scale and efficiency by building on the Cadence Orion Molecular Design Platform. It unites the proven OpenEye OMEGA conformer generation and ROCS (Rapid Overlay of Chemical Structures) virtual screening software products with an AI-enabled 3D search engine. The system can create 3D representations of molecules along with electrostatics, which delivers a performance increase of at least three orders of magnitude over current approaches

The ROCS X technology was developed and validated through a collaboration with Treeline Biosciences, which is a biotechnology firm focused on serious medical conditions like cancer. In validation testing, ROCS X was compared to the traditional FastROCS enumerated search and found 97% identical molecules from a set of 1,000. The technology enables customers to search over a thousand times more molecules in the synthon space.

Cadence Design Systems Inc. (NASDAQ:CDNS) is a technology company that provides software, hardware, and other services worldwide.

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