Oppenheimer Cuts Rani Therapeutics (NASDAQ:RANI) Price Target to $4.00

Rani Therapeutics (NASDAQ:RANI) had its price objective trimmed by Oppenheimer from $14.00 to $4.00 in a report published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Rani Therapeutics in a report on Wednesday, February 26th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Rani Therapeutics in a report on Thursday, April 3rd. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Rani Therapeutics currently has an average rating of “Buy” and an average price target of $9.40.

Rani Therapeutics Stock Up 12.2%

Rani Therapeutics stock opened at $0.64 on Friday. The company has a 50-day simple moving average of $1.16 and a 200-day simple moving average of $1.52. The firm has a market capitalization of $36.82 million, a P/E ratio of -0.60 and a beta of 0.25. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.60 and a current ratio of 1.60. Rani Therapeutics has a one year low of $0.46 and a one year high of $5.74.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) EPS for the quarter, hitting the consensus estimate of ($0.22). The firm had revenue of $0.20 million for the quarter. As a group, equities analysts expect that Rani Therapeutics will post -1.01 earnings per share for the current year.

Institutional Investors Weigh In On Rani Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC acquired a new stake in Rani Therapeutics in the 4th quarter valued at about $37,000. Virtu Financial LLC acquired a new stake in Rani Therapeutics in the 4th quarter valued at about $62,000. Insigneo Advisory Services LLC acquired a new stake in Rani Therapeutics in the 4th quarter valued at about $65,000. King Luther Capital Management Corp lifted its holdings in Rani Therapeutics by 75.8% in the 1st quarter. King Luther Capital Management Corp now owns 58,000 shares of the company’s stock valued at $73,000 after acquiring an additional 25,000 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in Rani Therapeutics in the 1st quarter valued at about $105,000. 30.19% of the stock is owned by institutional investors and hedge funds.

About Rani Therapeutics

Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics for patients, physicians, and healthcare systems in the United States. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including oligonucleotides, peptides, proteins, and antibodies.