Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives $7.50 Consensus PT from Analysts

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have earned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $7.50.

Several analysts recently commented on RANI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rani Therapeutics in a report on Friday, March 27th. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of Rani Therapeutics in a research report on Friday, March 27th. Finally, Canaccord Genuity Group reduced their price objective on Rani Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, April 1st.

Institutional Trading of Rani Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in Rani Therapeutics during the 4th quarter worth $69,000. Millennium Management LLC acquired a new stake in Rani Therapeutics in the 4th quarter worth about $220,000. Bridgeway Capital Management LLC bought a new stake in Rani Therapeutics in the 4th quarter valued at about $155,000. 683 Capital Management LLC bought a new stake in Rani Therapeutics in the 4th quarter valued at about $658,000. Finally, RA Capital Management L.P. acquired a new position in shares of Rani Therapeutics during the 4th quarter worth approximately $11,475,000. 30.19% of the stock is currently owned by institutional investors.

Rani Therapeutics Price Performance

Shares of Rani Therapeutics stock opened at $0.84 on Wednesday. The business has a fifty day simple moving average of $1.22 and a two-hundred day simple moving average of $1.33. Rani Therapeutics has a 1 year low of $0.39 and a 1 year high of $3.87. The company has a market capitalization of $103.87 million, a price-to-earnings ratio of -1.42 and a beta of 0.64.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings data on Thursday, March 26th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The business had revenue of $1.46 million for the quarter, compared to analysts’ expectations of $5.00 million. As a group, equities analysts anticipate that Rani Therapeutics will post -1.01 earnings per share for the current fiscal year.

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.