Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives $7.50 Consensus Price Target from Analysts

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have received a consensus rating of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $7.50.

RANI has been the subject of several recent research reports. Canaccord Genuity Group lowered their price target on shares of Rani Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Rani Therapeutics in a research report on Friday, March 27th. Finally, HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of Rani Therapeutics in a research report on Friday, March 27th.

Rani Therapeutics Trading Down 1.5%

RANI opened at $0.82 on Wednesday. The firm has a market cap of $101.13 million, a price-to-earnings ratio of -1.39 and a beta of 0.64. The company has a fifty day simple moving average of $1.19 and a 200 day simple moving average of $1.33. Rani Therapeutics has a twelve month low of $0.39 and a twelve month high of $3.87.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings results on Thursday, March 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The company had revenue of $1.46 million for the quarter, compared to analysts’ expectations of $5.00 million. On average, analysts forecast that Rani Therapeutics will post -1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rani Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Private Wealth Services LLC grew its position in Rani Therapeutics by 12.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 254,812 shares of the company’s stock valued at $344,000 after buying an additional 28,670 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in Rani Therapeutics in the 4th quarter valued at about $40,000. Virtu Financial LLC bought a new position in Rani Therapeutics in the 4th quarter valued at about $69,000. CWA Asset Management Group LLC grew its position in Rani Therapeutics by 80.0% in the 3rd quarter. CWA Asset Management Group LLC now owns 150,000 shares of the company’s stock valued at $75,000 after buying an additional 66,667 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in Rani Therapeutics in the 4th quarter valued at about $93,000. Institutional investors own 30.19% of the company’s stock.

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.