Rani Therapeutics (NASDAQ:RANI) Earns Buy Rating from Chardan Capital

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating reiterated by analysts at Chardan Capital in a research note issued on Thursday, Benzinga reports.

Several other analysts have also issued reports on the company. HC Wainwright reissued a “buy” rating on shares of Rani Therapeutics in a report on Tuesday, October 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Rani Therapeutics in a research report on Thursday, October 15th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.33.

Rani Therapeutics Price Performance

Shares of NASDAQ RANI opened at $0.60 on Thursday. The firm has a 50-day moving average of $0.80 and a 200 day moving average of $0.83. Rani Therapeutics has a 1 year low of $0.60 and a 1 year high of $2.63. The stock has a market cap of $84.06 million, a P/E ratio of -2.23 and a beta of 0.69.

Rani Therapeutics (NASDAQ:RANI) last posted its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $1.71 million for the quarter, compared to the consensus estimate of $0.93 million. Research analysts expect that Rani Therapeutics will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RANI. Squarepoint Ops LLC increased its position in Rani Therapeutics by 155.5% during the 2nd quarter. Squarepoint Ops LLC now owns 41,902 shares of the company’s stock valued at $32,000 after buying an additional 25,501 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of Rani Therapeutics by 4.1% during the 1st quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company’s stock valued at $195,000 after purchasing an additional 10,347 shares in the last quarter. Finally, AWM Investment Company Inc. purchased a new position in Rani Therapeutics in the second quarter valued at $5,703,000. Hedge funds and other institutional investors own 30.19% of the company’s stock.

Rani Therapeutics Company Profile

Rani Therapeutics Holdings, Inc is a biotechnology company developing oral delivery technologies for biologic medicines that are typically administered by injection. The company’s platform is designed to transport therapeutic molecules through the stomach and release them in the small intestine, where they can be absorbed into the bloodstream.

Its primary technology, the RaniPill capsule, is a robotic oral delivery system intended to deliver biologics, peptides and other large-molecule therapies.