Recursion Pharmaceuticals price target lowered to $8 from $10 at BofA

BofA lowered the firm’s price target on Recursion Pharmaceuticals (RXRX) to $8 from $10 and keeps a Neutral rating on the shares after announcing Q1 results along with a deprioritization of four pipeline programs and pausing of another clinical program. The firm updated its model to remove the builds for deprioritized assets while updating operating expense expectations given the leaner pipeline, the analyst tells investors.