Chardan Capital Upgrades Rani Therapeutics (NASDAQ:RANI) to “Strong-Buy”

Rani Therapeutics (NASDAQ:RANI) was upgraded by research analysts at Chardan Capital to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. Wall Street Zen upgraded Rani Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. HC Wainwright restated a “buy” rating on shares of Rani Therapeutics in a research report on Friday, August 21st. Finally, Canaccord Genuity Group restated a “buy” rating and set a $5.00 price objective on shares of Rani Therapeutics in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $8.75.

Rani Therapeutics Stock Up 1.5%

Shares of NASDAQ RANI opened at $0.85 on Wednesday. The stock has a market capitalization of $119.07 million, a P/E ratio of -3.16 and a beta of 0.78. The stock’s 50 day moving average price is $0.78 and its two-hundred day moving average price is $0.95. Rani Therapeutics has a 52-week low of $0.44 and a 52-week high of $3.87.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $1.71 million for the quarter, compared to analyst estimates of $0.93 million. On average, analysts anticipate that Rani Therapeutics will post -0.17 EPS for the current year.

Insider Transactions at Rani Therapeutics

In other Rani Therapeutics news, CEO Talat Imran purchased 35,000 shares of Rani Therapeutics stock in a transaction on Friday, July 17th. The stock was bought at an average price of $0.72 per share, for a total transaction of $25,200.00. Following the transaction, the chief executive officer owned 469,736 shares of the company’s stock, valued at $338,209.92. The trade was a 8.05% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 26.73% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Armistice Capital LLC bought a new position in Rani Therapeutics in the 2nd quarter valued at about $1,619,000. Citadel Advisors LLC lifted its stake in shares of Rani Therapeutics by 199.0% in the 3rd quarter. Citadel Advisors LLC now owns 452,542 shares of the company’s stock worth $226,000 after acquiring an additional 301,193 shares during the period. Kestra Private Wealth Services LLC lifted its stake in shares of Rani Therapeutics by 44.8% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock worth $113,000 after acquiring an additional 70,002 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of Rani Therapeutics in the fourth quarter valued at approximately $40,000. Finally, Geode Capital Management LLC increased its stake in shares of 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 acquiring an additional 564,031 shares during the period. 30.19% of the stock is owned by institutional investors and hedge funds.

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.