Recursion Pharmaceuticals (NASDAQ:RXRX) Price Target Cut to $8.00 by Analysts at Morgan Stanley

Recursion Pharmaceuticals (NASDAQ:RXRX) had its price target cut by equities researchers at Morgan Stanley from $10.00 to $8.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 38.89% from the company’s previous close.

RXRX has been the topic of several other research reports. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a report on Tuesday. Cowen restated a “hold” rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. KeyCorp lowered their price objective on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Leerink Partners lowered their price target on Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Friday, February 28th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.20.

Recursion Pharmaceuticals Trading Up 27.7 %

NASDAQ:RXRX opened at $5.76 on Thursday. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -3.76 and a beta of 1.00. Recursion Pharmaceuticals has a 52 week low of $3.79 and a 52 week high of $12.36. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $6.83 and a 200 day moving average of $6.84.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings data on Friday, February 28th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.17). Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The business had revenue of $4.60 million for the quarter, compared to analysts’ expectations of $19.04 million. During the same quarter in the prior year, the company posted ($0.42) EPS. The business’s revenue for the quarter was down 57.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Recursion Pharmaceuticals will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of Recursion Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Softbank Group CORP. acquired a new position in Recursion Pharmaceuticals during the fourth quarter valued at $99,152,000. Novo Holdings A S purchased a new position in shares of Recursion Pharmaceuticals during the 4th quarter valued at about $68,375,000. Vanguard Group Inc. lifted its holdings in shares of Recursion Pharmaceuticals by 40.1% in the 4th quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company’s stock valued at $229,908,000 after buying an additional 9,737,196 shares during the period. State Street Corp boosted its stake in shares of Recursion Pharmaceuticals by 47.1% in the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after buying an additional 4,120,685 shares during the last quarter. Finally, Norges Bank acquired a new stake in Recursion Pharmaceuticals during the fourth quarter worth about $23,429,000. 89.06% of the stock is 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.