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If your tank parameters are good, it should bounce back. I have purchased frags worse than that and bounced them back to beauties
Looks like a Stylophora.
Have you done a run down on your water chemistry?
Could the piece have been handled roughly during purchase?
Is the tissue missing like RTN\STN or is it localized bleaching? Look close to see if you can see calcium skeleton or clear tissue. I would keep it in the water and hold it up flat under the lights to see. Shut your flow off to avoid any spreading of diseased tissue as a precaution.