Chardan Capital Reaffirms Buy Rating for Rani Therapeutics (NASDAQ:RANI)

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating reiterated by investment analysts at Chardan Capital in a research note issued on Thursday, Benzinga reports.

A number of other equities analysts have also weighed in on RANI. Weiss Ratings restated a “sell (e+)” rating on shares of Rani Therapeutics in a research report on Thursday, October 15th. HC Wainwright reiterated a “buy” rating on shares of Rani Therapeutics in a report on Tuesday, October 6th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.33.

Rani Therapeutics Stock Performance

Shares of RANI traded up $0.02 during trading hours on Thursday, hitting $0.61. 287,919 shares of the stock were exchanged, compared to its average volume of 913,426. The stock’s 50-day moving average price is $0.80 and its two-hundred day moving average price is $0.83. Rani Therapeutics has a 12-month low of $0.57 and a 12-month high of $2.63. The company has a market cap of $84.46 million, a price-to-earnings ratio of -2.24 and a beta of 0.69.

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, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $1.71 million for the quarter, compared to analyst estimates of $0.93 million. On average, research analysts expect that Rani Therapeutics will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Rani Therapeutics

A number of hedge funds have recently modified their holdings of RANI. AWM Investment Company Inc. acquired a new stake in Rani Therapeutics during the second quarter worth about $5,703,000. Kestra Private Wealth Services LLC raised its stake in Rani Therapeutics by 4.1% during the first 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 holdings in Rani Therapeutics by 155.5% in the 2nd quarter. Squarepoint Ops LLC now owns 41,902 shares of the company’s stock valued at $32,000 after purchasing an additional 25,501 shares during the last quarter. Hedge funds and other institutional investors own 30.19% of the company’s stock.

Rani Therapeutics Company Profile

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.