Stock Track | Recursion Pharmaceuticals Plummets 5.05% on Analyst's Price Target Cut After Exscientia Merger

Stock Track11-21 23:02

Recursion Pharmaceuticals, Inc. (RXRX) stock experienced a significant plummet of 5.05% in Thursday's intraday trading session. This downward movement was likely influenced by an analyst's rating adjustment and price target reduction for the company.

Alec Stranahan, an analyst at Bank of America Securities, reiterated a "Hold" rating on Recursion Pharmaceuticals (RXRX). However, Stranahan also lowered the price target for the stock, citing clinical uncertainties despite acknowledging the company's upside potential following its recent merger with Exscientia.

The merger with Exscientia, a leading artificial intelligence (AI)-driven drug discovery company, has been seen as a strategic move for Recursion Pharmaceuticals to enhance its drug development capabilities. However, analysts have expressed concerns regarding the potential risks and uncertainties associated with the clinical development of the combined company's pipeline.

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