Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives $12.29 Average Price Target from Brokerages

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been given a consensus recommendation of “Buy” by the eight brokerages that are covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $12.29.

Several equities analysts have commented on the stock. Maxim Group assumed coverage on shares of Rani Therapeutics in a research report on Friday, June 14th. They issued a “buy” rating and a $15.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $13.00 price objective on shares of Rani Therapeutics in a report on Tuesday, June 25th. Canaccord Genuity Group reduced their price objective on shares of Rani Therapeutics from $21.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Rodman & Renshaw started coverage on shares of Rani Therapeutics in a report on Thursday, June 13th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, BTIG Research lifted their price target on shares of Rani Therapeutics from $7.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th.

Rani Therapeutics Stock Performance

NASDAQ:RANI opened at $3.76 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 3.09 and a current ratio of 3.09. The stock has a market capitalization of $189.58 million, a P/E ratio of -2.91 and a beta of 0.16. The company has a 50 day moving average price of $5.01 and a 200 day moving average price of $4.20. Rani Therapeutics has a fifty-two week low of $1.82 and a fifty-two week high of $8.75.

Rani Therapeutics (NASDAQ:RANI) last issued its quarterly earnings results on Monday, May 6th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.06). Equities research analysts forecast that Rani Therapeutics will post -1.05 EPS for the current year.

Institutional Trading of Rani Therapeutics

A hedge fund recently raised its stake in Rani Therapeutics stock. Vanguard Group Inc. increased its stake in shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 2.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 685,303 shares of the company’s stock after buying an additional 16,956 shares during the period. Vanguard Group Inc. owned about 1.37% of Rani Therapeutics worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 30.19% of the company’s stock.

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.