Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Stock Has Average Target Price of $8.75 According to Analysts

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has received a consensus recommendation of “Moderate Buy” from the five analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $8.33.

A number of equities research analysts have issued reports on RANI shares. HC Wainwright reiterated a “buy” rating on shares of Rani Therapeutics in a research note on Tuesday, October 6th. Chardan Capital reaffirmed a “buy” rating on shares of Rani Therapeutics in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rani Therapeutics in a research note on Thursday, October 15th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RANI. Squarepoint Ops LLC grew its holdings 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 raised its position 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 buying an additional 10,347 shares during the last quarter. Finally, AWM Investment Company Inc. purchased a new position in shares of Rani Therapeutics in the second quarter worth $5,703,000. 30.19% of the stock is owned by hedge funds and other institutional investors.

Rani Therapeutics Trading Down 2.9%

NASDAQ RANI opened at $0.59 on Friday. Rani Therapeutics has a 12 month low of $0.57 and a 12 month high of $2.63. The stock has a market cap of $81.91 million, a price-to-earnings ratio of -2.18 and a beta of 0.69. The company’s 50 day moving average is $0.80 and its two-hundred day moving average is $0.83.

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

About Rani Therapeutics

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.