Recursion Pharmaceuticals

RXRX · NASDAQ

$3.66+$0.05 (+1.39%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $3.61

RXRX analyst rating

BuyConsensus of 5 analysts over the last 12 months. 60% rate it a buy.

Strong buy0
Buy3
Hold2
Underperform0
Sell0

12-month price target · 8 analysts

Average $6.79 (+85.6% upside)

Low: $4.04
Now: $3.66
High: $10.50

Upgrades and downgrades

The latest rating actions, newest first

RXRX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Needham	Oct 19, 2026	Maintains	Buy	$8.00	38%
Morgan Stanley	May 14, 2026	Maintains	Equal-Weight	$5.00 → $5.50	43%
Needham	May 7, 2026	Maintains	Buy	$8.00	38%
JP Morgan	Apr 30, 2026	Maintains	Overweight	$11.00 → $10.00	18%
B of A Securities	Feb 26, 2026	Maintains	Neutral	$7.00 → $6.00	53%
Needham	Feb 26, 2026	Maintains	Buy	$8.00	38%
JP Morgan	Dec 17, 2025	Upgrade	Neutral → Overweight	$10.00 → $11.00	39%

The case for and against

Updated Oct 21, 2026

Bull case

Recursion Pharmaceuticals is supported by a differentiated AI-native platform that is translating into real clinical and partnership validation, including a ~$12B Roche collaboration, a $10M Sanofi opt-in milestone, and another $4M Sanofi milestone in 1Q:26. Its core FAP program is showing encouraging efficacy and durability, with REC-4881 delivering a 47% median total GI polyp reduction and 55% upper GI reduction at 13 weeks, while management is in FDA discussions for a registrational design with feedback expected by YE:26. The company also has a credible second engine in REC-1245, where early activity in heavily pretreated solid tumors and mostly low-grade safety data reinforce the broader value of its AI-enabled drug discovery model, despite dilution from the announced financing.

Bear case

Recursion Pharmaceuticals is a development-stage biotechnology company facing elevated clinical, competitive, regulatory, and financial risk, with no guarantee its candidates or partnerships will generate durable revenue. Although 1Q:26 non-GAAP operating expense fell to $85M, management still expects spending to rise through the year and maintained fiscal 2026 cash burn guidance of under $390M, underscoring ongoing cash consumption. Its $665M cash position in 1Q:26 only provides runway into early 2028, while the crowded ML/AI drug discovery field raises the risk that it fails to lead or secure favorable financing.

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