Recursion Pharmaceuticals (NASDAQ:RXRX) Given New $6.00 Price Target at Leerink Partners

Recursion Pharmaceuticals (NASDAQ:RXRX) had its price objective reduced by investment analysts at Leerink Partners from $7.00 to $6.00 in a report issued on Friday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Leerink Partners’ price objective would suggest a potential downside of 20.11% from the stock’s previous close.

A number of other brokerages have also issued reports on RXRX. 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. Needham & Company LLC restated a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Thursday, February 6th. Finally, Cowen reissued a “hold” rating on shares of Recursion Pharmaceuticals in a report on Friday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.25.

Recursion Pharmaceuticals Trading Down 2.1 %

Shares of RXRX stock traded down $0.16 during mid-day trading on Friday, reaching $7.51. The company’s stock had a trading volume of 35,323,784 shares, compared to its average volume of 26,054,885. The company’s 50 day simple moving average is $7.69 and its 200-day simple moving average is $7.07. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. Recursion Pharmaceuticals has a 12-month low of $5.60 and a 12-month high of $14.12. The firm has a market capitalization of $2.93 billion, a PE ratio of -4.91 and a beta of 0.86.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings data on Friday, February 28th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.17). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The company had revenue of $4.60 million for the quarter, compared to analyst estimates of $19.04 million. During the same quarter in the prior year, the firm earned ($0.42) EPS. The company’s revenue for the quarter was down 57.8% compared to the same quarter last year. On average, research analysts predict that Recursion Pharmaceuticals will post -1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Softbank Group CORP. acquired a new position in shares of Recursion Pharmaceuticals in the fourth quarter valued at $99,152,000. Novo Holdings A S acquired a new stake in shares of Recursion Pharmaceuticals in the fourth quarter valued at $68,375,000. Vanguard Group Inc. grew its holdings in Recursion Pharmaceuticals by 40.1% during the 4th quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company’s stock worth $229,908,000 after acquiring an additional 9,737,196 shares during the last quarter. ARK Investment Management LLC grew its stake in shares of Recursion Pharmaceuticals by 16.4% during the third quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock valued at $215,949,000 after purchasing an additional 4,626,268 shares during the last quarter. Finally, State Street Corp boosted its position in Recursion Pharmaceuticals by 47.1% in the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock valued at $84,815,000 after buying an additional 4,120,685 shares during the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

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.