Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Stock Has Average Price Target of $8.75

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $8.75.

RANI has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rani Therapeutics in a research report on Thursday. Chardan Capital upgraded Rani Therapeutics to a “strong-buy” rating in a research note on Wednesday, August 26th. Finally, HC Wainwright reissued a “buy” rating on shares of Rani Therapeutics in a report on Tuesday, October 6th.

Hedge Funds Weigh In On Rani Therapeutics

A number of institutional investors have recently modified their holdings of the business. AWM Investment Company Inc. purchased a new stake in Rani Therapeutics in the 2nd quarter valued at $5,703,000. Kestra Private Wealth Services LLC boosted its stake in Rani Therapeutics by 4.1% during the 1st quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company’s stock worth $195,000 after purchasing an additional 10,347 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in Rani Therapeutics by 155.5% during the 2nd quarter. Squarepoint Ops LLC now owns 41,902 shares of the company’s stock worth $32,000 after purchasing an additional 25,501 shares during the period. 30.19% of the stock is owned by institutional investors and hedge funds.

Rani Therapeutics Stock Performance

Rani Therapeutics stock opened at $0.64 on Friday. Rani Therapeutics has a fifty-two week low of $0.61 and a fifty-two week high of $3.87. The company has a market capitalization of $89.30 million, a P/E ratio of -2.37 and a beta of 0.69. The stock has a 50-day simple moving average of $0.81 and a 200-day simple moving average of $0.83.

Rani Therapeutics (NASDAQ:RANI) last announced its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $1.71 million during the quarter, compared to analyst estimates of $0.93 million. As a group, analysts forecast that Rani Therapeutics will post -0.17 earnings per share for the current year.

About Rani Therapeutics

Rani Therapeutics Holdings, Inc is a biotechnology company developing oral delivery technologies for biologic medicines that are typically administered by injection. The company’s platform is designed to transport therapeutic molecules through the stomach and release them in the small intestine, where they can be absorbed into the bloodstream.

Its primary technology, the RaniPill capsule, is a robotic oral delivery system intended to deliver biologics, peptides and other large-molecule therapies.