Rani Therapeutics (NASDAQ:RANI) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Rani Therapeutics (NASDAQ:RANI) from a sell rating to a hold rating in a research report report published on Sunday morning.

A number of other equities analysts have also issued reports on RANI. Weiss Ratings restated a “sell (d-)” rating on shares of Rani Therapeutics in a research report on Friday, March 27th. Canaccord Genuity Group lowered their target price on shares of Rani Therapeutics from $9.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of Rani Therapeutics in a research report on Friday, March 27th. Finally, Lake Street Capital assumed coverage on shares of Rani Therapeutics in a research report on Tuesday, April 14th. They issued a “buy” rating and a $9.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Rani Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $8.75.

Rani Therapeutics Stock Performance

Shares of RANI opened at $1.08 on Friday. The firm has a market cap of $133.59 million, a PE ratio of -2.63 and a beta of 0.74. The company’s 50 day simple moving average is $1.01 and its 200-day simple moving average is $1.33. Rani Therapeutics has a 12-month low of $0.39 and a 12-month high of $3.87.

Rani Therapeutics (NASDAQ:RANI) last announced its earnings results on Friday, May 15th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $1.71 million for the quarter, compared to analysts’ expectations of $1.13 million. As a group, equities research analysts forecast that Rani Therapeutics will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Rani Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Kestra Private Wealth Services LLC grew its position in Rani Therapeutics by 4.1% in the 1st 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. Jefferies Financial Group Inc. purchased a new position in Rani Therapeutics in the 4th quarter valued at $40,000. Virtu Financial LLC purchased a new position in Rani Therapeutics in the 4th quarter valued at $69,000. OMERS ADMINISTRATION Corp purchased a new position in Rani Therapeutics in the 4th quarter valued at $93,000. Finally, Farallon Capital Management LLC purchased a new stake in shares of Rani Therapeutics during the 4th quarter worth $105,000. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

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.