Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Given Consensus Recommendation of “Moderate Buy” by Analysts

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been given an average recommendation of “Moderate Buy” by the five research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $8.75.

Several research firms have issued reports on RANI. 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 started coverage on shares of Rani Therapeutics in a report on Tuesday, April 14th. They set a “buy” rating and a $9.00 target price on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $5.00 price target on shares of Rani Therapeutics in a research report on Wednesday, May 20th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price target on shares of Rani Therapeutics in a research report on Friday, March 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rani Therapeutics in a report on Wednesday, June 24th.

Institutional Investors Weigh In On Rani Therapeutics

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of Rani Therapeutics by 190.0% during the 4th quarter. Geode Capital Management LLC now owns 860,941 shares of the company’s stock valued at $1,163,000 after buying an additional 564,031 shares during the period. 683 Capital Management LLC purchased a new position in Rani Therapeutics in the 4th quarter worth approximately $658,000. State Street Corp boosted its holdings in Rani Therapeutics by 519.8% in the 4th quarter. State Street Corp now owns 387,042 shares of the company’s stock worth $523,000 after acquiring an additional 324,600 shares during the period. Squarepoint Ops LLC acquired a new stake in Rani Therapeutics in the fourth quarter valued at approximately $465,000. Finally, Citadel Advisors LLC grew its position in Rani Therapeutics by 199.0% in the third quarter. Citadel Advisors LLC now owns 452,542 shares of the company’s stock valued at $226,000 after acquiring an additional 301,193 shares in the last quarter. Institutional investors and hedge funds own 30.19% of the company’s stock.

Rani Therapeutics Price Performance

NASDAQ RANI opened at $0.70 on Friday. The firm has a market capitalization of $86.50 million, a P/E ratio of -1.70 and a beta of 0.78. Rani Therapeutics has a 1-year low of $0.39 and a 1-year high of $3.87. The business’s 50-day simple moving average is $0.87 and its 200-day simple moving average is $1.09.

Rani Therapeutics (NASDAQ:RANI) last posted its earnings results on Friday, May 15th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $1.71 million for the quarter, compared to analyst estimates of $1.12 million. On average, equities research analysts expect that Rani Therapeutics will post -0.18 EPS for the current fiscal year.

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.