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

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $8.75.

Several brokerages have weighed in on RANI. Chardan Capital raised Rani Therapeutics to a “strong-buy” rating in a report on Wednesday, August 26th. Wall Street Zen upgraded shares of Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Canaccord Genuity Group reiterated a “buy” rating and issued a $5.00 target price on shares of Rani Therapeutics in a research note on Wednesday, May 20th. Weiss Ratings downgraded shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. Finally, HC Wainwright restated a “buy” rating on shares of Rani Therapeutics in a research note on Friday, August 21st.

Rani Therapeutics Trading Down 0.8%

NASDAQ RANI opened at $0.86 on Friday. The firm’s fifty day simple moving average is $0.79 and its two-hundred day simple moving average is $0.94. The firm has a market capitalization of $119.60 million, a P/E ratio of -3.18 and a beta of 0.69. Rani Therapeutics has a 12-month low of $0.44 and a 12-month high of $3.87.

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

Insider Activity

In other news, CEO Talat Imran bought 35,000 shares of the business’s stock in a transaction that occurred on Friday, July 17th. The shares were purchased at an average cost of $0.72 per share, with a total value of $25,200.00. Following the transaction, the chief executive officer directly owned 469,736 shares in the company, valued at approximately $338,209.92. The trade was a 8.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 26.73% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Jefferies Financial Group Inc. acquired a new position in Rani Therapeutics in the 4th quarter worth approximately $40,000. Virtu Financial LLC purchased a new stake in shares of Rani Therapeutics in the 4th quarter valued at $69,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Rani Therapeutics in the fourth quarter worth $93,000. Farallon Capital Management LLC acquired a new stake in shares of Rani Therapeutics in the fourth quarter worth $105,000. Finally, Kestra Private Wealth Services LLC raised its holdings in shares of Rani Therapeutics by 44.8% during the third quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock worth $113,000 after purchasing an additional 70,002 shares during 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.