Nvidia Just Invested $50 Million in This Biotech -- Should You Buy It?
After announcing that it would get a $50 million investment from (NASDAQ: NVDA) on July 12, Recursion Pharmaceuticals (NASDAQ: RXRX) saw its stock blast off, rising 87% over the following two days. According to the press release announcing the private investment in public equity (PIPE), NVIDIA will now have access to Recursion's treasure trove of biochemical and genetic data; NVIDIA will use this to train machine-learning models in support of its new BioNeMo service, an artificial intelligence (AI) tool to help discover new drugs. At the same time, NVIDIA will help Recursion improve its own models for drug discovery.
Based on the market's reaction to the news, investors have high hopes for the collaboration's impact on Recursion's future prospects. But does that mean it's worth buying right now?
The most important reason to consider buying this stock is that it's already one of the leaders in the emerging field of AI-facilitated drug development, and the new collaboration with NVIDIA could supercharge its chances of hitting one or more home runs.
Source Fool.com
NVIDIA Corp. Stock
Currently there is a rather positive sentiment for NVIDIA Corp. with 198 Buy predictions and 13 Sell predictions.
As a result the target price of 120 € shows a slightly positive potential of 6.19% compared to the current price of 113.0 € for NVIDIA Corp..
