Recursion Pharmaceuticals (NASDAQ:RXRX) Given Buy Rating at Needham & Company LLC

Key Points

• Recursion Pharmaceuticals received a "buy" rating from Needham & Company LLC, with a price target of $8.00, indicating a potential upside of 76.21% from its last closing price.
• Morgan Stanley has set an "equal weight" rating on the stock with a lower price target of $5.00, reflecting varying analyst opinions on the company's performance.
• In its latest earnings report, Recursion Pharmaceuticals reported a 33.3% increase in revenue year-over-year, but missed earnings expectations with a loss of $0.41 per share.

Needham & Company LLC reaffirmed their buy rating on shares of Recursion Pharmaceuticals (NASDAQ:RXRX - Free Report) in a research report report published on Thursday,Benzinga reports. Needham & Company LLC currently has a $8.00 price objective on the stock.

Separately, Morgan Stanley assumed coverage on Recursion Pharmaceuticals in a report on Thursday, July 3rd. They set an "equal weight" rating and a $5.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Recursion Pharmaceuticals has an average rating of "Hold" and an average price target of $7.25.

Recursion Pharmaceuticals Stock Down 0.9%

Shares of Recursion Pharmaceuticals stock traded down $0.05 during midday trading on Thursday, hitting $4.79. The company's stock had a trading volume of 14,980,572 shares, compared to its average volume of 23,979,377. The firm has a market capitalization of $2.08 billion, a P/E ratio of -2.69 and a beta of 0.91. The stock has a 50-day simple moving average of $5.34 and a 200-day simple moving average of $5.29. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.02. Recursion Pharmaceuticals has a 1-year low of $3.79 and a 1-year high of $12.36.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The business had revenue of $19.10 million during the quarter, compared to analyst estimates of $15.38 million. Recursion Pharmaceuticals had a negative return on equity of 76.09% and a negative net margin of 1,004.91%.The business's quarterly revenue was up 33.3% on a year-over-year basis. During the same period last year, the business earned ($0.40) EPS. As a group, sell-side analysts expect that Recursion Pharmaceuticals will post -1.57 earnings per share for the current year.

Insider Activity

In other news, insider Najat Khan sold 36,599 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $5.52, for a total value of $202,026.48. Following the completion of the transaction, the insider owned 668,197 shares in the company, valued at approximately $3,688,447.44. The trade was a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.43% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RXRX. Brighton Jones LLC raised its position in Recursion Pharmaceuticals by 49.4% in the 4th quarter. Brighton Jones LLC now owns 20,261 shares of the company's stock worth $137,000 after purchasing an additional 6,699 shares during the last quarter. Northern Trust Corp raised its position in shares of Recursion Pharmaceuticals by 18.4% during the 4th quarter. Northern Trust Corp now owns 2,394,511 shares of the company's stock valued at $16,187,000 after acquiring an additional 371,886 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Recursion Pharmaceuticals by 46.4% during the 4th quarter. Ameriprise Financial Inc. now owns 91,670 shares of the company's stock valued at $620,000 after acquiring an additional 29,034 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Recursion Pharmaceuticals during the 4th quarter valued at $233,000. Finally, Cetera Investment Advisers raised its position in shares of Recursion Pharmaceuticals by 28.6% during the 4th quarter. Cetera Investment Advisers now owns 61,833 shares of the company's stock valued at $418,000 after acquiring an additional 13,751 shares during the last quarter. Institutional investors own 89.06% of the company's stock.

About Recursion Pharmaceuticals

Recursion Pharmaceuticals, Inc operates as a clinical-stage biotechnology company, engages in the decoding biology by integrating technological innovations across biology, chemistry, automation, data science, and engineering to industrialize drug discovery. The company develops REC-994, which is in Phase 2 clinical trial to treat cerebral cavernous malformation; REC-2282, which is in Phase 2/3 clinical trial for the treatment of neurofibromatosis type 2; REC-4881, which is in Phase 1b/2 clinical trial to treat familial adenomatous polyposis; REC-3964, which is in Phase 1 clinical trial to treat Clostridioides difficile infection; and REC-4881, which is in Phase 2 clinical trial to treat AXIN1 or APC mutant cancers.