Recursion Pharmaceuticals (NASDAQ:RXRX) Price Target Cut to $8.00 by Analysts at Needham & Company LLC

Recursion Pharmaceuticals (NASDAQ:RXRX) had its price target decreased by analysts at Needham & Company LLC from $11.00 to $8.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 68.07% from the stock’s previous close.

Several other equities research analysts also recently issued reports on RXRX. Morgan Stanley cut their price objective on Recursion Pharmaceuticals from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Leerink Partners reduced their price target on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, February 28th. Cowen reissued a “hold” rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. Finally, KeyCorp cut their target price on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.60.

Recursion Pharmaceuticals Trading Down 16.5 %

Shares of RXRX stock opened at $4.76 on Tuesday. Recursion Pharmaceuticals has a 1-year low of $3.79 and a 1-year high of $12.36. The firm has a market cap of $1.91 billion, a PE ratio of -3.11 and a beta of 0.99. The company has a 50-day moving average of $5.75 and a two-hundred day moving average of $6.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.06). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The company had revenue of $14.75 million for the quarter, compared to analysts’ expectations of $18.12 million. During the same period in the previous year, the business posted ($0.39) EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts predict that Recursion Pharmaceuticals will post -1.57 EPS for the current year.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Recursion Pharmaceuticals by 40.1% during the fourth 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 in the last quarter. Softbank Group CORP. acquired a new stake in shares of Recursion Pharmaceuticals during the 4th quarter worth about $99,152,000. Kinnevik AB publ increased its stake in Recursion Pharmaceuticals by 12.8% in the first quarter. Kinnevik AB publ now owns 13,434,171 shares of the company’s stock valued at $71,067,000 after purchasing an additional 1,528,503 shares during the last quarter. Novo Holdings A S acquired a new stake in Recursion Pharmaceuticals during the fourth quarter worth approximately $68,375,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Recursion Pharmaceuticals by 12.1% in the 4th quarter. Geode Capital Management LLC now owns 6,087,149 shares of the company’s stock valued at $41,160,000 after buying an additional 655,238 shares in the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.