Morgan Stanley Has Lowered Expectations for Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price

Recursion Pharmaceuticals (NASDAQ:RXRX) had its price objective lowered by Morgan Stanley from $10.00 to $8.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 38.89% from the stock’s current price.

Several other equities analysts also recently commented on RXRX. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Tuesday. Leerink Partners reduced their price target on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Friday, February 28th. Cowen reiterated a “hold” rating on shares of Recursion Pharmaceuticals in a report on Friday, February 28th. Finally, KeyCorp dropped 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. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.20.

Recursion Pharmaceuticals Price Performance

Recursion Pharmaceuticals stock opened at $5.76 on Thursday. Recursion Pharmaceuticals has a 12-month low of $3.79 and a 12-month high of $12.36. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $6.83 and a 200-day moving average price of $6.84. The firm has a market capitalization of $2.32 billion, a PE ratio of -3.76 and a beta of 1.00.

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

Institutional Trading of Recursion Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its position in Recursion Pharmaceuticals by 11.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 124,654 shares of the company’s stock valued at $821,000 after purchasing an additional 13,041 shares during the period. Stifel Financial Corp increased its holdings in Recursion Pharmaceuticals by 48.8% during the third quarter. Stifel Financial Corp now owns 161,978 shares of the company’s stock valued at $1,067,000 after buying an additional 53,103 shares during the period. State Street Corp raised its stake in 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 in the last quarter. Wellington Management Group LLP purchased a new stake in Recursion Pharmaceuticals during the third quarter worth $692,000. Finally, Barclays PLC boosted its position in Recursion Pharmaceuticals by 53.9% during the 3rd quarter. Barclays PLC now owns 697,432 shares of the company’s stock valued at $4,596,000 after acquiring an additional 244,278 shares in the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.