Morgan Stanley lowered the firm’s price target on Recursion Pharmaceuticals (RXRX) to $5 from $8 and keeps an Equal Weight rating on the shares. The firm revised its model following the company’s recent pipeline prioritizations, cost reductions, 20% workforce reduction and updated cash burn guidance.
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Read More on RXRX:
- Cautious Outlook on Recursion Pharmaceuticals Amid Strategic Restructuring and Cash Management Challenges
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- Recursion Pharmaceuticals Announces Workforce Reduction Strategy
- Recursion Pharmaceuticals announces 20% workforce reduction
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