Rani Therapeutics’ (RANI) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reissued their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a report released on Thursday,Benzinga reports.

A number of other analysts have also recently weighed in on RANI. Weiss Ratings restated a “sell (e+)” rating on shares of Rani Therapeutics in a research note on Thursday, October 15th. HC Wainwright reaffirmed a “buy” rating on shares of Rani Therapeutics in a report on Tuesday, October 6th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.33.

Rani Therapeutics Stock Performance

RANI opened at $0.61 on Thursday. The business has a 50 day moving average price of $0.79 and a 200 day moving average price of $0.83. Rani Therapeutics has a twelve month low of $0.57 and a twelve month high of $2.63. The firm has a market cap of $84.46 million, a P/E ratio of -2.24 and a beta of 0.69.

Rani Therapeutics (NASDAQ:RANI) last announced its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $1.71 million for the quarter, compared to the consensus estimate of $0.93 million. As a group, analysts anticipate that Rani Therapeutics will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rani Therapeutics

Large investors have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its stake in Rani Therapeutics by 155.5% during the 2nd quarter. Squarepoint Ops LLC now owns 41,902 shares of the company’s stock valued at $32,000 after purchasing an additional 25,501 shares during the period. Kestra Private Wealth Services LLC grew its holdings in Rani Therapeutics by 4.1% in the 1st quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company’s stock valued at $195,000 after buying an additional 10,347 shares during the last quarter. Finally, AWM Investment Company Inc. bought a new position in Rani Therapeutics in the 2nd quarter worth approximately $5,703,000. Institutional investors and hedge funds own 30.19% of the company’s stock.

About Rani Therapeutics

Rani Therapeutics Holdings, Inc is a clinical-stage biotherapeutics company developing technology designed to deliver biologic medicines orally. Its proprietary RaniPill platform is an ingestible robotic capsule intended to transport biologic drugs through the stomach and release them into the small intestine, where they can be absorbed into the bloodstream. The approach is intended to address the limitations of many biologic therapies, which are commonly administered by injection or infusion.

The company is advancing the RaniPill platform for potential use with a range of large-molecule medicines, including peptides, proteins and antibodies.