Rani Therapeutics (NASDAQ:RANI) Earns Buy Rating from Analysts at Lake Street Capital

Research analysts at Lake Street Capital began coverage on shares of Rani Therapeutics (NASDAQ:RANI) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $9.00 price target on the stock.

Other analysts have also issued research reports about the company. Canaccord Genuity Group cut their price objective on Rani Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. HC Wainwright restated a “buy” rating and issued a $11.00 price objective on shares of Rani Therapeutics in a report on Friday, March 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rani Therapeutics in a report on Friday, March 27th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.80.

Rani Therapeutics Price Performance

Shares of Rani Therapeutics stock traded up $0.04 during trading on Tuesday, hitting $0.81. The stock had a trading volume of 182,163 shares, compared to its average volume of 1,139,929. The firm has a market cap of $100.56 million, a P/E ratio of -1.37 and a beta of 0.64. The business has a fifty day moving average of $1.16 and a two-hundred day moving average of $1.34. Rani Therapeutics has a fifty-two week low of $0.39 and a fifty-two week high of $3.87.

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

Institutional Investors Weigh In On Rani Therapeutics

Hedge funds have recently modified their holdings of the stock. Jefferies Financial Group Inc. purchased a new stake in shares of Rani Therapeutics during the fourth quarter valued at $40,000. Virtu Financial LLC acquired a new position in Rani Therapeutics during the fourth quarter valued at $69,000. OMERS ADMINISTRATION Corp acquired a new position in Rani Therapeutics during the fourth quarter valued at $93,000. Farallon Capital Management LLC acquired a new position in Rani Therapeutics during the fourth quarter valued at $105,000. Finally, Bridgeway Capital Management LLC acquired a new position in Rani Therapeutics during the fourth quarter valued at $155,000. 30.19% of the stock is owned by hedge funds and other institutional investors.

About Rani Therapeutics

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.