Needham Retains Buy Rating on Recursion Pharmaceuticals, Maintains PT at $8

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) is one of the 12 Best NASDAQ Penny Stocks to Buy According to Hedge Funds. On September 10, Needham retained its Buy rating on Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX), maintaining the price target at $8.

Gil Blum from Needham reaffirmed the rating on RXRX due to various factors, pointing out the company’s strong position in the AI-driven drug discovery sector. Being a leader in this space, the company is backed by its extensive and proprietary dataset.

The analyst remains optimistic about Recursion Pharmaceuticals as the company has taken notable steps to extend its financial runway. The company is focusing on its pipeline, which now provides cash runways into the fourth quarter of 2027. Blum believes that the anticipation of multiple clinical readouts within the next 12 to 18 months supports the positive outlook of Recursion. Especially the significant updates on REC-617 in solid tumors and FAP results.

Analysts at Morgan Stanley and BofA retain a Hold rating on RXRX, keeping the price target at $4.8 and $8, respectively. As of September 12, Recursion Pharmaceuticals, Inc.’s (NASDAQ:RXRX) average price target of $6.50, based on analysts’ estimates, implies an upside of nearly 34.58% from current levels.

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) is a clinical-stage TechBio firm decoding biology and chemistry to industrialized drug discovery. Its Recursion Operating System allows it to build across diverse technologies, enabling the company to map and navigate trillions of biological and chemical relationships within the dataset.

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Disclosure: None. This article is originally published at Insider Monkey.