Rani Therapeutics’ (RANI) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $11.00 target price on the stock.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen upgraded Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Rani Therapeutics in a report on Wednesday, October 8th. Finally, Maxim Group boosted their price objective on Rani Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a report on Monday. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Rani Therapeutics Stock Performance

Shares of Rani Therapeutics stock opened at $2.85 on Tuesday. The stock has a market cap of $204.83 million, a price-to-earnings ratio of -3.13 and a beta of -0.02. The stock has a 50 day moving average price of $0.61 and a 200-day moving average price of $0.67. Rani Therapeutics has a one year low of $0.39 and a one year high of $3.32.

Rani Therapeutics (NASDAQ:RANI) last announced its earnings results on Thursday, August 7th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. Sell-side analysts predict that Rani Therapeutics will post -1.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rani Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of RANI. Armistice Capital LLC bought a new stake in Rani Therapeutics during the 2nd quarter valued at $1,619,000. Kestra Private Wealth Services LLC raised its position in Rani Therapeutics by 16.3% during the 1st quarter. Kestra Private Wealth Services LLC now owns 139,156 shares of the company’s stock valued at $175,000 after purchasing an additional 19,536 shares in the last quarter. King Luther Capital Management Corp raised its position in Rani Therapeutics by 75.8% during the 1st quarter. King Luther Capital Management Corp now owns 58,000 shares of the company’s stock valued at $73,000 after purchasing an additional 25,000 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Rani Therapeutics by 102.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company’s stock valued at $28,000 after purchasing an additional 28,000 shares in the last quarter. Finally, Well Done LLC bought a new stake in Rani Therapeutics during the 2nd quarter valued at $27,000. 30.19% of the stock is owned by institutional investors.

About Rani Therapeutics

Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics for patients, physicians, and healthcare systems in the United States. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including oligonucleotides, peptides, proteins, and antibodies.