Needham & Company LLC Reaffirms “Buy” Rating for Recursion Pharmaceuticals (NASDAQ:RXRX)

Recursion Pharmaceuticals (NASDAQ:RXRX)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research note issued on Monday, Benzinga reports. They presently have a $8.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 122.53% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Wall Street Zen raised shares of Recursion Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday. Morgan Stanley set a $5.90 target price on shares of Recursion Pharmaceuticals in a research report on Friday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a research report on Thursday. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Recursion Pharmaceuticals has an average rating of “Hold” and an average price target of $8.18.

Recursion Pharmaceuticals Trading Down 0.4%

Recursion Pharmaceuticals stock traded down $0.02 during mid-day trading on Monday, reaching $3.60. 7,878,565 shares of the company traded hands, compared to its average volume of 19,510,840. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.03 and a quick ratio of 5.03. The firm’s 50 day moving average price is $3.64 and its 200 day moving average price is $3.42. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -3.46 and a beta of 1.04. Recursion Pharmaceuticals has a 52-week low of $2.77 and a 52-week high of $6.70.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The company had revenue of $7.67 million for the quarter, compared to analysts’ expectations of $10.97 million. Recursion Pharmaceuticals had a negative net margin of 945.94% and a negative return on equity of 50.41%. During the same period in the previous year, the firm posted ($0.41) earnings per share. On average, analysts anticipate that Recursion Pharmaceuticals will post -0.94 earnings per share for the current fiscal year.

Insider Transactions at Recursion Pharmaceuticals

In related news, Director Blake Borgeson sold 50,000 shares of the company’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $4.84, for a total value of $242,000.00. Following the transaction, the director owned 6,108,287 shares in the company, valued at $29,564,109.08. The trade was a 0.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Najat Khan sold 22,408 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $3.52, for a total transaction of $78,876.16. Following the completion of the transaction, the chief executive officer owned 2,072,890 shares in the company, valued at approximately $7,296,572.80. The trade was a 1.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 157,408 shares of company stock valued at $643,576 in the last three months. 6.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. MCF Advisors LLC bought a new position in Recursion Pharmaceuticals in the 2nd quarter worth about $27,000. Fund Advisors of America Inc FL bought a new position in Recursion Pharmaceuticals in the 2nd quarter worth about $45,000. Integral Investment Advisors Inc. bought a new position in Recursion Pharmaceuticals in the 1st quarter worth about $39,000. MQS Management LLC bought a new position in Recursion Pharmaceuticals in the 1st quarter worth about $41,000. Finally, Sequoia Financial Advisors LLC boosted its stake in Recursion Pharmaceuticals by 51.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 15,162 shares of the company’s stock worth $47,000 after purchasing an additional 5,156 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

Recursion Pharmaceuticals Company Profile

Recursion Pharmaceuticals, Inc is a clinical-stage biotechnology company that uses biology, chemistry, automation and machine learning to discover and develop new medicines. The company’s technology platform is designed to generate and analyze large volumes of biological and chemical data, helping researchers identify potential drug candidates and better understand disease mechanisms.

Recursion has focused its research and development activities on areas including oncology, rare diseases and neuroscience.