Leerink Partners Issues Pessimistic Forecast for Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) had its price objective decreased by equities researchers at Leerink Partners from $7.00 to $6.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Leerink Partners' price target suggests a potential downside of 8.95% from the stock's current price.

A number of other equities research analysts also recently issued reports on the stock. Cowen reiterated a "hold" rating on shares of Recursion Pharmaceuticals in a research report on Friday. KeyCorp cut their price objective on Recursion Pharmaceuticals from $12.00 to $10.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Finally, Needham & Company LLC restated a "buy" rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Recursion Pharmaceuticals currently has an average rating of "Hold" and an average target price of $8.25.

Recursion Pharmaceuticals Stock Down 12.3 %

NASDAQ:RXRX traded down $0.92 during trading hours on Friday, hitting $6.59. 25,551,746 shares of the company's stock traded hands, compared to its average volume of 26,089,264. The stock's fifty day moving average price is $7.71 and its two-hundred day moving average price is $7.09. The firm has a market cap of $2.57 billion, a P/E ratio of -4.31 and a beta of 0.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. Recursion Pharmaceuticals has a twelve month low of $5.60 and a twelve month high of $12.93.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in Recursion Pharmaceuticals by 17.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company's stock worth $12,789,000 after purchasing an additional 288,926 shares in the last quarter. Accel Wealth Management bought a new stake in shares of Recursion Pharmaceuticals during the 4th quarter worth about $310,000. FMR LLC increased its holdings in shares of Recursion Pharmaceuticals by 2.1% during the 3rd quarter. FMR LLC now owns 8,363,530 shares of the company's stock valued at $55,116,000 after acquiring an additional 170,810 shares during the last quarter. Avanza Fonder AB bought a new position in shares of Recursion Pharmaceuticals in the 4th quarter valued at approximately $580,000. Finally, State Street Corp lifted its holdings in Recursion Pharmaceuticals by 47.1% in the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company's stock worth $84,815,000 after purchasing an additional 4,120,685 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company's stock.

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.