Needham & Company LLC Reiterates Buy Rating for Recursion Pharmaceuticals (NASDAQ:RXRX)

Recursion Pharmaceuticals (NASDAQ:RXRX)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $11.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 86.76% from the company’s current price.

RXRX has been the topic of several other research reports. Jefferies Financial Group cut their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Tuesday, September 3rd. Leerink Partners lowered their price target on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.25.

Recursion Pharmaceuticals Stock Performance

Recursion Pharmaceuticals stock traded down $0.38 during mid-day trading on Wednesday, hitting $5.89. 8,044,764 shares of the company’s stock traded hands, compared to its average volume of 5,799,507. The firm has a 50 day moving average price of $6.66 and a 200 day moving average price of $7.55. 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 company has a market cap of $1.69 billion, a PE ratio of -3.80 and a beta of 0.81. Recursion Pharmaceuticals has a one year low of $5.70 and a one year high of $15.74.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The business had revenue of $26.08 million for the quarter, compared to the consensus estimate of $12.62 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The firm’s revenue was up 147.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.43) EPS. On average, equities analysts forecast that Recursion Pharmaceuticals will post -1.56 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Christopher Gibson sold 20,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $6.04, for a total value of $120,800.00. Following the transaction, the chief executive officer now owns 762,656 shares of the company’s stock, valued at $4,606,442.24. This represents a 2.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Blake Borgeson sold 11,447 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $6.27, for a total transaction of $71,772.69. Following the completion of the sale, the director now owns 7,121,322 shares of the company’s stock, valued at approximately $44,650,688.94. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 171,682 shares of company stock valued at $1,133,471 over the last quarter. Insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Large investors have recently modified their holdings of the business. Janney Montgomery Scott LLC acquired a new stake in Recursion Pharmaceuticals in the 1st quarter valued at about $310,000. Russell Investments Group Ltd. boosted its position in shares of Recursion Pharmaceuticals by 45.2% during the 1st quarter. Russell Investments Group Ltd. now owns 158,305 shares of the company’s stock worth $1,578,000 after acquiring an additional 49,292 shares in the last quarter. ProShare Advisors LLC increased its stake in Recursion Pharmaceuticals by 14.1% in the first quarter. ProShare Advisors LLC now owns 40,949 shares of the company’s stock valued at $408,000 after acquiring an additional 5,051 shares during the last quarter. Vanguard Group Inc. raised its position in Recursion Pharmaceuticals by 2.2% during the first quarter. Vanguard Group Inc. now owns 16,014,764 shares of the company’s stock valued at $159,667,000 after purchasing an additional 349,554 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in Recursion Pharmaceuticals during the first quarter worth $350,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.