Rani Therapeutics (NASDAQ:RANI) Given New $5.00 Price Target at Canaccord Genuity Group

Rani Therapeutics (NASDAQ:RANI) had its target price decreased by investment analysts at Canaccord Genuity Group from $9.00 to $5.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock.

A number of other equities analysts have also issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rani Therapeutics in a research report on Friday. HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of Rani Therapeutics in a research report on Friday, March 27th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rani Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $7.50.

Rani Therapeutics Stock Up 9.6%

Shares of Rani Therapeutics stock traded up $0.07 during trading hours on Wednesday, hitting $0.81. 2,321,800 shares of the company’s stock traded hands, compared to its average volume of 1,171,756. Rani Therapeutics has a twelve month low of $0.39 and a twelve month high of $3.87. The company has a market cap of $97.86 million, a PE ratio of -1.37 and a beta of 0.39. The stock has a 50 day simple moving average of $1.25 and a 200-day simple moving average of $1.32.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings results on Thursday, March 26th. The company reported ($0.07) EPS 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 analyst estimates of $5.00 million. As a group, equities research analysts predict that Rani Therapeutics will post -1.01 EPS for the current year.

Institutional Trading of Rani Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AWM Investment Company Inc. bought a new position in Rani Therapeutics during the 4th quarter worth approximately $8,775,000. SymBiosis Capital Partners LLC acquired a new stake in shares of Rani Therapeutics during the 4th quarter valued at approximately $8,505,000. Siren L.L.C. acquired a new stake in shares of Rani Therapeutics during the 4th quarter valued at approximately $2,700,000. Armistice Capital LLC bought a new position in Rani Therapeutics during the second quarter worth $1,619,000. Finally, 683 Capital Management LLC bought a new position in Rani Therapeutics during the fourth quarter worth $658,000. 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.