Analysts Set Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Target Price at $8.75

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has received a consensus rating of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $8.75.

RANI has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rani Therapeutics in a report on Wednesday, June 24th. Canaccord Genuity Group restated a “buy” rating and set a $5.00 price objective on shares of Rani Therapeutics in a research report on Wednesday, May 20th. Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of Rani Therapeutics in a report on Friday, March 27th. Finally, Lake Street Capital assumed coverage on shares of Rani Therapeutics in a research report on Tuesday, April 14th. They issued a “buy” rating and a $9.00 price target for the company.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RANI. RA Capital Management L.P. acquired a new stake in shares of Rani Therapeutics during the 4th quarter valued at $11,475,000. AWM Investment Company Inc. acquired a new position in shares of Rani Therapeutics in the fourth quarter worth $8,775,000. SymBiosis Capital Partners LLC acquired a new position in shares of Rani Therapeutics in the fourth quarter worth $8,505,000. Armistice Capital LLC purchased a new stake in shares of Rani Therapeutics during the second quarter worth $1,619,000. Finally, Siren L.L.C. purchased a new stake in shares of Rani Therapeutics during the fourth quarter worth $2,700,000. Institutional investors and hedge funds own 30.19% of the company’s stock.

Rani Therapeutics Stock Performance

RANI opened at $0.67 on Friday. The company has a market capitalization of $82.99 million, a PE ratio of -1.63 and a beta of 0.78. The stock’s fifty day moving average is $0.85 and its 200-day moving average is $1.06. Rani Therapeutics has a one year low of $0.40 and a one year high of $3.87.

Rani Therapeutics (NASDAQ:RANI) last released 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 firm had revenue of $1.71 million for the quarter, compared to analyst estimates of $1.12 million. On average, equities research analysts forecast that Rani Therapeutics will post -0.18 EPS for the current fiscal year.

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.