Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) to Post FY2024 Earnings of ($1.00) Per Share, Zacks Small Cap Forecasts

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) – Zacks Small Cap raised their FY2024 earnings per share (EPS) estimates for shares of Rani Therapeutics in a research note issued on Thursday, March 21st. Zacks Small Cap analyst J. Vandermosten now anticipates that the company will post earnings of ($1.00) per share for the year, up from their previous estimate of ($1.04). The consensus estimate for Rani Therapeutics’ current full-year earnings is ($0.98) per share.

RANI has been the topic of a number of other reports. HC Wainwright reduced their price objective on shares of Rani Therapeutics from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday. Wedbush restated an “outperform” rating and issued a $8.00 price target on shares of Rani Therapeutics in a research report on Tuesday, February 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $15.25.

Rani Therapeutics Stock Down 1.7 %

Shares of NASDAQ RANI opened at $3.18 on Monday. The company has a current ratio of 6.36, a quick ratio of 6.36 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $159 million, a PE ratio of -2.39 and a beta of 0.97. The firm’s 50-day moving average is $3.49 and its 200-day moving average is $2.87. Rani Therapeutics has a 1 year low of $1.82 and a 1 year high of $5.81.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Rani Therapeutics by 37.7% during the first quarter. BlackRock Inc. now owns 157,374 shares of the company’s stock worth $2,125,000 after purchasing an additional 43,076 shares during the period. Vanguard Group Inc. raised its holdings in Rani Therapeutics by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 290,107 shares of the company’s stock worth $3,916,000 after buying an additional 4,561 shares during the period. State Street Corp lifted its stake in Rani Therapeutics by 32.7% in the first quarter. State Street Corp now owns 26,142 shares of the company’s stock valued at $353,000 after buying an additional 6,442 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Rani Therapeutics in the first quarter valued at approximately $362,000. Finally, Millennium Management LLC increased its position in shares of Rani Therapeutics by 243.7% during the second quarter. Millennium Management LLC now owns 111,781 shares of the company’s stock worth $1,155,000 after acquiring an additional 79,256 shares in the last quarter. 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. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including large molecules, such as peptides, proteins, and antibodies.