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

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has earned a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $8.75.

Several research firms have recently commented on RANI. Wall Street Zen upgraded shares of Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday. Canaccord Genuity Group reissued a “buy” rating and issued a $5.00 price objective on shares of Rani Therapeutics in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rani Therapeutics in a research report on Friday, March 27th. Lake Street Capital initiated coverage on Rani Therapeutics in a report on Tuesday, April 14th. They issued a “buy” rating and a $9.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of Rani Therapeutics in a research report on Friday, March 27th.

Hedge Funds Weigh In On Rani Therapeutics

Large investors have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. bought a new stake in shares of Rani Therapeutics in the 4th quarter valued at about $40,000. Virtu Financial LLC purchased a new stake in Rani Therapeutics during the fourth quarter valued at approximately $69,000. OMERS ADMINISTRATION Corp acquired a new stake in Rani Therapeutics in the fourth quarter valued at approximately $93,000. Farallon Capital Management LLC acquired a new stake in Rani Therapeutics in the fourth quarter valued at approximately $105,000. Finally, Bridgeway Capital Management LLC purchased a new position in Rani Therapeutics in the fourth quarter worth $155,000. 30.19% of the stock is currently owned by institutional investors.

Rani Therapeutics Stock Up 23.2%

RANI opened at $1.09 on Thursday. Rani Therapeutics has a 52 week low of $0.39 and a 52 week high of $3.87. The company has a market capitalization of $134.82 million, a P/E ratio of -2.66 and a beta of 0.74. The stock’s fifty day moving average is $0.99 and its two-hundred day moving average is $1.32.

Rani Therapeutics (NASDAQ:RANI) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The firm had revenue of $1.71 million for the quarter, compared to analysts’ expectations of $1.13 million. Equities analysts anticipate that Rani Therapeutics will post -0.24 earnings per share for the current 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.