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

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $8.75.

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $5.00 target price on shares of Rani Therapeutics in a research note on Wednesday, May 20th. Wall Street Zen upgraded shares of Rani Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Lake Street Capital assumed coverage on shares of Rani Therapeutics in a research note on Tuesday, April 14th. They issued a “buy” rating and a $9.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of Rani Therapeutics in a research note on Friday, March 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rani Therapeutics in a research report on Friday, March 27th.

Rani Therapeutics Stock Performance

Shares of NASDAQ:RANI opened at $0.78 on Monday. 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 $96.92 million, a P/E ratio of -1.91 and a beta of 0.74. The company has a 50-day simple moving average of $0.91 and a 200 day simple moving average of $1.16.

Rani Therapeutics (NASDAQ:RANI) last issued its earnings results on Friday, May 15th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. The firm had revenue of $1.71 million during the quarter, compared to analyst estimates of $1.13 million. As a group, equities analysts forecast that Rani Therapeutics will post -0.18 earnings per share for the current year.

Institutional Investors Weigh In On Rani Therapeutics

Hedge funds have recently bought and sold shares of the stock. Jefferies Financial Group Inc. acquired a new stake in Rani Therapeutics during the fourth quarter worth approximately $40,000. Virtu Financial LLC acquired a new stake in Rani Therapeutics during the fourth quarter worth approximately $69,000. OMERS ADMINISTRATION Corp acquired a new stake in Rani Therapeutics during the fourth quarter worth approximately $93,000. Farallon Capital Management LLC acquired a new stake in Rani Therapeutics during the fourth quarter worth approximately $105,000. Finally, Bridgeway Capital Management LLC acquired a new stake in Rani Therapeutics during the fourth quarter worth approximately $155,000. 30.19% of the stock is currently owned by institutional investors and hedge funds.

Rani Therapeutics Company Profile

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.