Recursion Pharmaceuticals' (RXRX) Buy Rating Reaffirmed at Needham & Company LLC

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $8.00 price objective on the stock. Needham & Company LLC's price objective points to a potential upside of 48.01% from the stock's previous close.

Separately, Morgan Stanley initiated coverage on Recursion Pharmaceuticals in a report on Thursday, July 3rd. They set an "equal weight" rating and a $5.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Recursion Pharmaceuticals presently has a consensus rating of "Hold" and a consensus target price of $7.00.

Recursion Pharmaceuticals Price Performance

RXRX traded up $0.48 during trading on Tuesday, reaching $5.41. 25,029,759 shares of the company were exchanged, compared to its average volume of 16,149,954. Recursion Pharmaceuticals has a 12-month low of $3.79 and a 12-month high of $12.36. The company's 50-day moving average is $4.82 and its two-hundred day moving average is $6.10. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.02. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -3.05 and a beta of 0.91.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.06). Recursion Pharmaceuticals had a negative return on equity of 74.70% and a negative net margin of 961.32%. The company had revenue of $14.75 million during the quarter, compared to the consensus estimate of $18.12 million. During the same quarter in the prior year, the business earned ($0.39) EPS. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts forecast that Recursion Pharmaceuticals will post -1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. Softbank Group CORP. purchased a new stake in shares of Recursion Pharmaceuticals during the 4th quarter valued at about $99,152,000. Novo Holdings A S purchased a new stake in shares of Recursion Pharmaceuticals during the 4th quarter valued at about $68,375,000. Vanguard Group Inc. raised its position in Recursion Pharmaceuticals by 40.1% in the 4th quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company's stock worth $229,908,000 after purchasing an additional 9,737,196 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Recursion Pharmaceuticals by 183.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,408,524 shares of the company's stock worth $33,901,000 after purchasing an additional 4,149,346 shares during the period. Finally, Norges Bank purchased a new stake in Recursion Pharmaceuticals in the 4th quarter worth about $23,429,000. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Recursion Pharmaceuticals Company Profile

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.

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