Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives $8.50 Average Target Price from Analysts

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have been given an average recommendation of “Moderate Buy” by the five brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $8.50.

Several brokerages have recently commented on RANI. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rani Therapeutics in a research report on Monday, December 29th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of Rani Therapeutics in a report on Friday, January 9th. Finally, Maxim Group increased their price target on Rani Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, October 20th.

Rani Therapeutics Stock Performance

NASDAQ RANI opened at $1.23 on Wednesday. The stock has a market capitalization of $149.46 million, a P/E ratio of -1.56 and a beta of 0.41. Rani Therapeutics has a 52 week low of $0.39 and a 52 week high of $3.87. The stock has a fifty day moving average of $1.43 and a 200-day moving average of $1.12.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). Equities research analysts forecast that Rani Therapeutics will post -1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rani Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RANI. Armistice Capital LLC acquired a new position in shares of Rani Therapeutics during the 2nd quarter worth about $1,619,000. Citadel Advisors LLC boosted its stake in Rani Therapeutics by 199.0% during the 3rd quarter. Citadel Advisors LLC now owns 452,542 shares of the company’s stock worth $226,000 after acquiring an additional 301,193 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in Rani Therapeutics by 12.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 254,812 shares of the company’s stock valued at $344,000 after purchasing an additional 28,670 shares during the period. CWA Asset Management Group LLC increased its stake in Rani Therapeutics by 80.0% in the third quarter. CWA Asset Management Group LLC now owns 150,000 shares of the company’s stock valued at $75,000 after purchasing an additional 66,667 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in Rani Therapeutics by 102.9% in the second quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company’s stock valued at $28,000 after purchasing an additional 28,000 shares in the last quarter. Institutional investors own 30.19% of the company’s stock.

Rani Therapeutics Company Profile

Rani Therapeutics is a clinical-stage biopharmaceutical company developing oral delivery technologies for large-molecule drugs. The company’s proprietary RaniPill platform is designed to enable the gastrointestinal delivery of biologic therapies traditionally administered via injection. Through a swallowable capsule that autonomously deploys a microscopic injector in the small intestine, Rani aims to improve patient convenience and adherence for peptide and protein therapies, including insulin and other hormones.

Since its founding in 2012, Rani Therapeutics has advanced its lead programs through early-phase clinical trials, demonstrating proof-of-concept for oral insulin delivery.