Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has earned an average rating of “Moderate Buy” from the five research firms that are covering the company, 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 12 month price target among analysts that have updated their coverage on the stock in the last year is $8.75.

RANI has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Rani Therapeutics in a research report on Friday, March 27th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Rani Therapeutics in a research note on Friday, March 27th. Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Lake Street Capital began coverage on Rani Therapeutics in a research note on Tuesday, April 14th. They set a “buy” rating and a $9.00 price objective on the stock. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $5.00 price objective on shares of Rani Therapeutics in a research note on Wednesday, May 20th.

Rani Therapeutics Price Performance

Shares of RANI stock opened at $0.76 on Monday. Rani Therapeutics has a fifty-two week low of $0.39 and a fifty-two week high of $3.87. The stock has a market cap of $94.16 million, a P/E ratio of -1.85 and a beta of 0.74. The business has a fifty day simple moving average of $0.92 and a 200-day simple moving average of $1.19.

Rani Therapeutics (NASDAQ:RANI) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $1.71 million during the quarter, compared to analysts’ expectations of $1.13 million. On average, sell-side analysts anticipate that Rani Therapeutics will post -0.18 earnings per share for the current year.

Institutional Trading of Rani Therapeutics

A number of large investors have recently made changes to their positions in the stock. Kestra Private Wealth Services LLC boosted its stake 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 acquiring an additional 10,347 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Rani Therapeutics during the fourth quarter valued at $69,000. Millennium Management LLC acquired a new stake in shares of Rani Therapeutics during the fourth quarter valued at $220,000. Bridgeway Capital Management LLC acquired a new stake in shares of Rani Therapeutics during the fourth quarter valued at $155,000. Finally, 683 Capital Management LLC acquired a new stake in shares of Rani Therapeutics during the fourth quarter valued at $658,000. Institutional investors and hedge funds own 30.19% of the company’s stock.

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.