Brokerages Set Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Price Target at $8.75

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has earned an average rating of “Moderate Buy” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $8.75.

RANI has been the topic of several research reports. Lake Street Capital began coverage on shares of Rani Therapeutics in a report on Tuesday, April 14th. They issued a “buy” rating and a $9.00 price target on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $5.00 price objective on shares of Rani Therapeutics in a research note on Wednesday, May 20th. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of Rani Therapeutics in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Rani Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rani Therapeutics in a research note on Friday, March 27th.

Institutional Trading of Rani Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Kestra Private Wealth Services LLC raised its stake in shares of Rani Therapeutics by 4.1% during the first 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 during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Rani Therapeutics during the fourth quarter worth approximately $40,000. Virtu Financial LLC acquired a new stake in shares of Rani Therapeutics during the fourth quarter worth approximately $69,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Rani Therapeutics during the fourth quarter worth approximately $93,000. Finally, Farallon Capital Management LLC acquired a new stake in shares of Rani Therapeutics during the fourth quarter worth approximately $105,000. Hedge funds and other institutional investors own 30.19% of the company’s stock.

Rani Therapeutics Stock Performance

NASDAQ RANI opened at $0.78 on Monday. Rani Therapeutics has a one year low of $0.39 and a one year high of $3.87. The company’s 50 day moving average price is $0.91 and its 200 day moving average price is $1.16. The firm has a market capitalization of $96.92 million, a price-to-earnings ratio of -1.91 and a beta of 0.74.

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. Sell-side analysts forecast that Rani Therapeutics will post -0.18 EPS for the current fiscal year.

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.