TD Cowen initiated coverage of Recursion Pharmaceuticals with a Market Perform rating and no price target. Recursion is uniquely positioned as a pioneer in AI-driven drug discovery with differentiated capabilities and partnerships in the small molecule arena, says the analyst, who thinks the stock’s premium to peers is justified given execution and a differentiated platform. However, a traditional R&D sharing business model featuring spinning off assets “would help reduce financial and clinical risks,” the analyst added.
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