In a report released today, Gil Blum from Needham maintained a Buy rating on Recursion Pharmaceuticals, with a price target of $8.00.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Gil Blum has given his Buy rating due to a combination of factors surrounding Recursion Pharmaceuticals’ strategic acquisition and potential market impact. The acquisition of full rights to Rallybio’s REV102, an ENPP1 inhibitor for hypophosphatasia, is a significant move for Recursion. This acquisition allows Recursion to integrate REV102 into its platform, Recursion OS, without a cash investment, which is a financially savvy decision.
Additionally, the potential of REV102 to offer a more convenient and safer alternative to current enzyme replacement therapies for hypophosphatasia patients could position Recursion favorably in the market. The upfront equity payment and structured future milestone payments also indicate a well-planned financial strategy. These factors contribute to the maintenance of the Buy rating and the $8 price target for Recursion’s stock.