HC Wainwright Reaffirms “Buy” Rating for Rani Therapeutics (NASDAQ:RANI)

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued to investors on Friday,Benzinga reports.

A number of other equities analysts also recently commented on the company. Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings downgraded shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. Chardan Capital assumed coverage on shares of Rani Therapeutics in a report on Tuesday. They issued a “buy” rating on the stock. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $5.00 target price on shares of Rani Therapeutics in a report on Wednesday, May 20th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rani Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $8.75.

Rani Therapeutics Stock Performance

NASDAQ:RANI opened at $0.85 on Friday. Rani Therapeutics has a fifty-two week low of $0.44 and a fifty-two week high of $3.87. The company has a 50 day moving average price of $0.77 and a 200 day moving average price of $0.96. The stock has a market capitalization of $105.42 million, a P/E ratio of -3.15 and a beta of 0.78.

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

Insider Activity

In related news, CEO Talat Imran purchased 35,000 shares of the business’s stock in a transaction dated Friday, July 17th. The stock was bought at an average cost of $0.72 per share, with a total value of $25,200.00. Following the completion of the acquisition, the chief executive officer directly owned 469,736 shares in the company, valued at $338,209.92. The trade was a 8.05% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 26.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rani Therapeutics

A number of institutional investors have recently modified their holdings of RANI. Almitas Capital LLC acquired a new position in Rani Therapeutics in the 2nd quarter valued at $7,111,000. Seven Fleet Capital Management LP acquired a new position in shares of Rani Therapeutics in the 2nd quarter valued at $1,011,299,000. Bank of America Corp DE acquired a new position in Rani Therapeutics in the second quarter valued at $706,000. ADAR1 Capital Management LLC purchased a new position in shares of Rani Therapeutics in the 2nd quarter worth about $285,000. Finally, BlackRock Inc. acquired a new stake in Rani Therapeutics during the 2nd quarter worth approximately $8,061,000. Institutional investors and hedge funds own 30.19% of the company’s stock.

About Rani Therapeutics

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.