Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Stock Has Consensus Price Target of $8.75

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $8.75.

Several research firms recently commented on RANI. Chardan Capital upgraded shares of Rani Therapeutics to a “strong-buy” rating in a research note on Wednesday, August 26th. Weiss Ratings downgraded shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 17th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Rani Therapeutics in a research report on Friday, August 21st.

Rani Therapeutics Stock Up 1.4%

Shares of NASDAQ RANI opened at $0.76 on Wednesday. The business’s 50 day moving average is $0.82 and its two-hundred day moving average is $0.88. The company has a market cap of $105.83 million, a P/E ratio of -2.81 and a beta of 0.69. Rani Therapeutics has a 12 month low of $0.45 and a 12 month high of $3.87.

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

Insiders Place Their Bets

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

Institutional Trading of Rani Therapeutics

Several institutional investors have recently modified their holdings of the company. AWM Investment Company Inc. bought a new stake in shares of Rani Therapeutics during the second quarter valued at approximately $5,703,000. Kestra Private Wealth Services LLC lifted its position in Rani Therapeutics by 4.1% in the first quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company’s stock worth $195,000 after purchasing an additional 10,347 shares during the period. Squarepoint Ops LLC lifted its position in Rani Therapeutics by 155.5% in the second quarter. Squarepoint Ops LLC now owns 41,902 shares of the company’s stock worth $32,000 after purchasing an additional 25,501 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new stake in Rani Therapeutics during the fourth quarter worth $40,000. Institutional investors and hedge funds own 30.19% of the company’s stock.

Rani Therapeutics Company Profile

Rani Therapeutics Holdings, Inc is a clinical-stage biopharmaceutical company developing oral delivery technologies for biologic medicines that are traditionally administered by injection or infusion. The company’s platform is designed to use a swallowable, robotic capsule to transport medicine through the stomach and release it in the small intestine, where the drug can be delivered into the body.

Rani’s technology, known as the RaniPill capsule, is intended to address challenges associated with injectable therapies, including the need for administration by a healthcare professional and patient reluctance toward injections.