Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Given Average Rating of “Moderate Buy” by Analysts

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $8.75.

A number of analysts have recently weighed in on the company. Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rani Therapeutics in a research note on Wednesday, June 24th. Canaccord Genuity Group reiterated a “buy” rating and set a $5.00 price target on shares of Rani Therapeutics in a report on Wednesday, May 20th. Lake Street Capital began coverage on shares of Rani Therapeutics in a report on Tuesday, April 14th. They issued a “buy” rating and a $9.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of Rani Therapeutics in a research note on Friday, March 27th.

Institutional Trading of Rani Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Armistice Capital LLC bought a new position in shares of Rani Therapeutics in the 2nd quarter worth approximately $1,619,000. Citadel Advisors LLC grew its stake in Rani Therapeutics by 199.0% in the third quarter. Citadel Advisors LLC now owns 452,542 shares of the company’s stock worth $226,000 after purchasing an additional 301,193 shares during the period. Kestra Private Wealth Services LLC grew its stake in Rani Therapeutics by 44.8% in the third quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock worth $113,000 after purchasing an additional 70,002 shares during the period. Jefferies Financial Group Inc. bought a new position in Rani Therapeutics in the fourth quarter worth $40,000. Finally, Geode Capital Management LLC lifted its position in Rani Therapeutics by 190.0% during the fourth quarter. Geode Capital Management LLC now owns 860,941 shares of the company’s stock valued at $1,163,000 after buying an additional 564,031 shares during the period. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

Rani Therapeutics Trading Up 2.6%

NASDAQ RANI opened at $0.65 on Friday. Rani Therapeutics has a 1-year low of $0.39 and a 1-year high of $3.87. The stock has a 50-day moving average of $0.86 and a 200-day moving average of $1.07. The firm has a market cap of $80.40 million, a PE ratio of -1.58 and a beta of 0.78.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $1.71 million for the quarter, compared to the consensus estimate of $1.12 million. As a group, equities research analysts forecast that Rani Therapeutics will post -0.18 earnings per share for the current fiscal year.

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.