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

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been given a consensus rating of “Moderate Buy” by the five ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $7.50.

Several equities analysts have commented on the company. Canaccord Genuity Group lowered their price objective on Rani Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of Rani Therapeutics in a research note on Friday, March 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rani Therapeutics in a research report on Friday.

Rani Therapeutics Stock Up 9.6%

Shares of NASDAQ:RANI traded up $0.07 during trading on Wednesday, hitting $0.81. The stock had a trading volume of 2,323,990 shares, compared to its average volume of 1,171,988. Rani Therapeutics has a 12 month low of $0.39 and a 12 month high of $3.87. The company has a market capitalization of $97.86 million, a PE ratio of -1.37 and a beta of 0.39. The firm’s fifty day moving average is $1.25 and its 200 day moving average is $1.32.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings results 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 company had revenue of $1.46 million during the quarter, compared to the consensus estimate of $5.00 million. Equities research analysts expect that Rani Therapeutics will post -1.01 EPS for the current fiscal year.

Institutional Trading of Rani Therapeutics

Hedge funds have recently made changes to their positions in the stock. RA Capital Management L.P. purchased a new stake in shares of Rani Therapeutics in the 4th quarter worth approximately $11,475,000. AWM Investment Company Inc. bought a new stake in Rani Therapeutics in the fourth quarter worth $8,775,000. SymBiosis Capital Partners LLC purchased a new stake in shares of Rani Therapeutics in the fourth quarter worth $8,505,000. Armistice Capital LLC purchased a new stake in shares of Rani Therapeutics in the second quarter worth $1,619,000. Finally, Siren L.L.C. bought a new position in shares of Rani Therapeutics during the fourth quarter valued at $2,700,000. 30.19% of the stock is owned by 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.