Brokerages Set Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) PT at $8.75

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $8.75.

A number of equities research analysts have recently issued reports on RANI shares. Canaccord Genuity Group reissued a “buy” rating and issued a $5.00 price target on shares of Rani Therapeutics in a research note on Wednesday, May 20th. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of Rani Therapeutics in a report on Friday, March 27th. Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Rani Therapeutics in a research note on Friday, March 27th. Finally, Lake Street Capital assumed coverage on Rani Therapeutics in a research report on Tuesday, April 14th. They set a “buy” rating and a $9.00 price target for the company.

Rani Therapeutics Stock Performance

NASDAQ RANI opened at $0.95 on Thursday. The business has a fifty day moving average price of $0.96 and a 200 day moving average price of $1.27. The company has a market cap of $117.69 million, a P/E ratio of -2.32 and a beta of 0.74. Rani Therapeutics has a one year low of $0.39 and a one year high of $3.87.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $1.71 million during the quarter, compared to analyst estimates of $1.13 million. As a group, sell-side analysts predict that Rani Therapeutics will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. RA Capital Management L.P. purchased a new position in Rani Therapeutics in the fourth quarter worth approximately $11,475,000. AWM Investment Company Inc. purchased a new stake in shares of Rani Therapeutics in the 4th quarter valued at approximately $8,775,000. SymBiosis Capital Partners LLC acquired a new stake in shares of Rani Therapeutics in the 4th quarter valued at $8,505,000. Armistice Capital LLC purchased a new stake in shares of Rani Therapeutics during the 2nd quarter worth $1,619,000. Finally, Siren L.L.C. purchased a new stake in shares of Rani Therapeutics during the 4th quarter worth $2,700,000. 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.