Rani Therapeutics (NASDAQ:RANI) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a report published on Friday morning,Benzinga reports. HC Wainwright currently has a $11.00 price objective on the stock.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Rani Therapeutics in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $8.33.

Rani Therapeutics Stock Down 24.9%

Shares of Rani Therapeutics stock opened at $0.81 on Friday. The firm has a market cap of $98.50 million, a P/E ratio of -1.37 and a beta of 0.39. Rani Therapeutics has a fifty-two week low of $0.39 and a fifty-two week high of $3.87. The business has a 50-day moving average price of $1.27 and a 200 day moving average price of $1.30.

Rani Therapeutics (NASDAQ:RANI) last released its earnings results on Thursday, March 26th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The business had revenue of $1.46 million during the quarter, compared to the consensus estimate of $5.00 million. As a group, equities research analysts anticipate that Rani Therapeutics will post -1.01 earnings per share for the current year.

Institutional Investors Weigh In On Rani Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Armistice Capital LLC bought a new position in Rani Therapeutics in the second quarter worth about $1,619,000. CWA Asset Management Group LLC boosted its stake in Rani Therapeutics by 80.0% in the third quarter. CWA Asset Management Group LLC now owns 150,000 shares of the company’s stock valued at $75,000 after acquiring an additional 66,667 shares during the period. Citadel Advisors LLC grew its holdings in shares of Rani Therapeutics by 199.0% during the third quarter. Citadel Advisors LLC now owns 452,542 shares of the company’s stock valued at $226,000 after purchasing an additional 301,193 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of Rani Therapeutics by 44.8% during the third quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock valued at $113,000 after purchasing an additional 70,002 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Rani Therapeutics during the 4th quarter worth approximately $40,000. 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.