An influential bank upgraded shares of Recursion Pharmaceuticals (NASDAQ: RXRX) on Wednesday, leading to an 11% surge in the stock price despite a generally weak market. J.P. Morgan analyst Priyanka Grover raised her rating from neutral to overweight and increased the price target by 10% to $11, citing positive results from the Phase 1b/2 trial of the investigational drug REC-4881 for treating familial adenomatous polyposis (FAP).
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