Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have been assigned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $8.75.

Several analysts have commented on the company. Canaccord Genuity Group restated a “buy” rating and issued a $5.00 price target on shares of Rani Therapeutics in a report on Wednesday, May 20th. Wall Street Zen upgraded Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of Rani Therapeutics in a report on Friday, March 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Rani Therapeutics in a report on Friday, March 27th. Finally, Lake Street Capital began coverage on Rani Therapeutics in a report on Tuesday, April 14th. They issued a “buy” rating and a $9.00 price target for the company.

Rani Therapeutics Price Performance

RANI opened at $0.76 on Monday. The stock has a market capitalization of $94.16 million, a price-to-earnings ratio of -1.85 and a beta of 0.74. The business has a 50-day moving average of $0.92 and a two-hundred day moving average of $1.19. Rani Therapeutics has a 12 month low of $0.39 and a 12 month high of $3.87.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The business had revenue of $1.71 million during the quarter, compared to analysts’ expectations of $1.13 million. Equities research analysts anticipate that Rani Therapeutics will post -0.18 earnings per share for the current year.

Hedge Funds Weigh In On Rani Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Jefferies Financial Group Inc. acquired a new position in shares of Rani Therapeutics in the 4th quarter valued at about $40,000. Virtu Financial LLC acquired a new position in shares of Rani Therapeutics in the 4th quarter valued at about $69,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Rani Therapeutics in the 4th quarter valued at about $93,000. Farallon Capital Management LLC acquired a new position in shares of Rani Therapeutics in the 4th quarter valued at about $105,000. Finally, Kestra Private Wealth Services LLC lifted its stake in shares of Rani Therapeutics by 44.8% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock valued at $113,000 after purchasing an additional 70,002 shares in the last quarter. 30.19% of the stock is owned by institutional investors and hedge funds.

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.