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Recursion (RXRX) to Report Q1 Earnings: What's in the Cards?
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Recursion (RXRX - Free Report) is slated to report first-quarter 2024 results on May 9, after market close.
The Zacks Consensus Estimate is pegged at a loss of 43 cents per share. The Zacks Consensus Estimate for first-quarter revenues is pinned at $13.4 million, suggesting a 10% increase from the year-ago quarter's reported figure.
Let us see how things have shaped up for the quarterly release of this TechBio company that decodes biology and chemistry to industrialize drug discovery.
Factors to Consider
In the absence of a marketed product in the company’s commercial portfolio, Recursion only recognizes collaboration revenues from its partners.
The company has ongoing collaboration agreements with pharma giants like Roche and Bayer to develop candidates for several oncology indications, with differentiated mechanisms of action. RXRX is also currently collaborating with NVIDIA Corporation, the worldwide leader in visual computing technologies, to accelerate the development program of its novel AI foundation models for biology and chemistry.
Revenues from such existing collaborations are likely to have recorded year-over-year growth for Recursion.
The company is expected to provide updates regarding the clinical-stage pipeline programs in its first-quarter earnings results. RXRX expects several data readouts throughout 2024 and 2025.
Recursion’s oncology candidate, REC-994, is being evaluated in the mid-stage SYCAMORE study to treat cerebral cavernous malformation. It completed patient enrollment for the study last year and expects to share top-line data from the same in the third quarter of 2024.
RXRX’s other pipeline candidates include REC-2282 and REC-4881 for treating neurofibromatosis type II (NF2) and familial adenomatous polyposis (FAP), respectively. Two doses of REC-2282 are being evaluated in Part 1 of the mid to late-stage POPLAR study for the NF2 indication. Recursion expects to share phase II safety and preliminary efficacy data in fourth-quarter 2024.
On the other hand, the early to mid-stage TUPELO study is evaluating REC-4881 for patients with FAP. The company expects to report phase II safety and preliminary efficacy data in the first half of 2025.
Recursion is also evaluating REC-4881 in a phase II LILAC study for the treatment of patients with unresectable, locally advanced or metastatic cancer with AXIN1 or APC mutations.RXRX is likely to provide an update regarding the same on the first-quarter earnings call.
The company has several other pre-clinical and clinical-stage candidates that are being developed to target genetically-driven rare diseases and precision oncology.
Research and development expenses are expected to have improved in the to-be-reported quarter due to increased investments in expanding and upgrading the company’s proprietary candidate development platform.
General and administrative expenses are also likely to have increased because of higher compensation to employees and improvements in legal, software and depreciation expenses.
Earnings Surprise History
The company beat estimates in one of the trailing four quarters, matched twice and missed once, delivering an average negative surprise of 0.03%. In the last reported quarter, the company came up with an earnings surprise of 13.04%.
Shares of Recursion have lost 8.4% in the year-to-date period compared with the industry’s decline of 6.8%.
Image Source: Zacks Investment Research
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Recursion this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Earnings ESP: Recursion has an Earnings ESP of 0.00% as the Most Accurate Estimate is in line with the Zacks Consensus Estimate.
Zacks Rank: RXRX currently carries a Zacks Rank #3.
Recursion Pharmaceuticals, Inc. Price and EPS Surprise
Here are some stocks worth considering from the same industry, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Shares of Adverum Biotechnologies have gained 37.9% in the year-to-date period. ADVM beat estimates in three of the last four quarters and missed the same on one occasion, delivering a negative earnings surprise of 3.58%.
Argenx (ARGX - Free Report) has an Earnings ESP of +10.00% and a Zacks Rank #3 at present.
Shares of Argenx have gained 2.9% year to date. ARGX beat earnings estimates in two of the last four quarters and missed the mark on one occasion while meeting on another, delivering an average surprise of 14.18%. The company is set to report first-quarter 2024 results on May 9.
Catalyst Pharmaceuticals (CPRX - Free Report) has an Earnings ESP of +1.19% and a Zacks Rank #3 at present.
Shares of Catalyst have plunged 12% year to date. CPRX beat on earnings in two of the trailing four quarters, matched once and missed the remaining occasion, delivering an average surprise of 7.27%. CPRX is scheduled to release first-quarter 2024 results on May 8.
Image: Bigstock
Recursion (RXRX) to Report Q1 Earnings: What's in the Cards?
Recursion (RXRX - Free Report) is slated to report first-quarter 2024 results on May 9, after market close.
The Zacks Consensus Estimate is pegged at a loss of 43 cents per share. The Zacks Consensus Estimate for first-quarter revenues is pinned at $13.4 million, suggesting a 10% increase from the year-ago quarter's reported figure.
Let us see how things have shaped up for the quarterly release of this TechBio company that decodes biology and chemistry to industrialize drug discovery.
Factors to Consider
In the absence of a marketed product in the company’s commercial portfolio, Recursion only recognizes collaboration revenues from its partners.
The company has ongoing collaboration agreements with pharma giants like Roche and Bayer to develop candidates for several oncology indications, with differentiated mechanisms of action. RXRX is also currently collaborating with NVIDIA Corporation, the worldwide leader in visual computing technologies, to accelerate the development program of its novel AI foundation models for biology and chemistry.
Revenues from such existing collaborations are likely to have recorded year-over-year growth for Recursion.
The company is expected to provide updates regarding the clinical-stage pipeline programs in its first-quarter earnings results. RXRX expects several data readouts throughout 2024 and 2025.
Recursion’s oncology candidate, REC-994, is being evaluated in the mid-stage SYCAMORE study to treat cerebral cavernous malformation. It completed patient enrollment for the study last year and expects to share top-line data from the same in the third quarter of 2024.
RXRX’s other pipeline candidates include REC-2282 and REC-4881 for treating neurofibromatosis type II (NF2) and familial adenomatous polyposis (FAP), respectively. Two doses of REC-2282 are being evaluated in Part 1 of the mid to late-stage POPLAR study for the NF2 indication. Recursion expects to share phase II safety and preliminary efficacy data in fourth-quarter 2024.
On the other hand, the early to mid-stage TUPELO study is evaluating REC-4881 for patients with FAP. The company expects to report phase II safety and preliminary efficacy data in the first half of 2025.
Recursion is also evaluating REC-4881 in a phase II LILAC study for the treatment of patients with unresectable, locally advanced or metastatic cancer with AXIN1 or APC mutations.RXRX is likely to provide an update regarding the same on the first-quarter earnings call.
The company has several other pre-clinical and clinical-stage candidates that are being developed to target genetically-driven rare diseases and precision oncology.
Research and development expenses are expected to have improved in the to-be-reported quarter due to increased investments in expanding and upgrading the company’s proprietary candidate development platform.
General and administrative expenses are also likely to have increased because of higher compensation to employees and improvements in legal, software and depreciation expenses.
Earnings Surprise History
The company beat estimates in one of the trailing four quarters, matched twice and missed once, delivering an average negative surprise of 0.03%. In the last reported quarter, the company came up with an earnings surprise of 13.04%.
Shares of Recursion have lost 8.4% in the year-to-date period compared with the industry’s decline of 6.8%.
Image Source: Zacks Investment Research
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Recursion this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Earnings ESP: Recursion has an Earnings ESP of 0.00% as the Most Accurate Estimate is in line with the Zacks Consensus Estimate.
Zacks Rank: RXRX currently carries a Zacks Rank #3.
Recursion Pharmaceuticals, Inc. Price and EPS Surprise
Recursion Pharmaceuticals, Inc. price-eps-surprise | Recursion Pharmaceuticals, Inc. Quote
Stocks to Consider
Here are some stocks worth considering from the same industry, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Adverum Biotechnologies (ADVM - Free Report) has an Earnings ESP of +3.66% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Adverum Biotechnologies have gained 37.9% in the year-to-date period. ADVM beat estimates in three of the last four quarters and missed the same on one occasion, delivering a negative earnings surprise of 3.58%.
Argenx (ARGX - Free Report) has an Earnings ESP of +10.00% and a Zacks Rank #3 at present.
Shares of Argenx have gained 2.9% year to date. ARGX beat earnings estimates in two of the last four quarters and missed the mark on one occasion while meeting on another, delivering an average surprise of 14.18%. The company is set to report first-quarter 2024 results on May 9.
Catalyst Pharmaceuticals (CPRX - Free Report) has an Earnings ESP of +1.19% and a Zacks Rank #3 at present.
Shares of Catalyst have plunged 12% year to date. CPRX beat on earnings in two of the trailing four quarters, matched once and missed the remaining occasion, delivering an average surprise of 7.27%. CPRX is scheduled to release first-quarter 2024 results on May 8.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.