Rani Therapeutics (NASDAQ:RANI) Earns “Buy” Rating from HC Wainwright

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $11.00 target price on the stock.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rani Therapeutics in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.33.

Rani Therapeutics Trading Down 5.3%

Shares of NASDAQ RANI opened at $1.08 on Friday. The stock has a market cap of $131.23 million, a P/E ratio of -1.37 and a beta of 0.39. The business’s fifty day simple moving average is $1.29 and its 200-day simple moving average is $1.30. Rani Therapeutics has a 12-month low of $0.39 and a 12-month high of $3.87.

Rani Therapeutics (NASDAQ:RANI) last released its earnings results on Thursday, March 26th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The company had revenue of $1.46 million during the quarter, compared to analysts’ expectations of $5.00 million. On average, equities analysts forecast that Rani Therapeutics will post -1.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. RA Capital Management L.P. acquired a new stake in shares of Rani Therapeutics during the 4th quarter worth about $11,475,000. AWM Investment Company Inc. acquired a new position in Rani Therapeutics in the fourth quarter valued at approximately $8,775,000. SymBiosis Capital Partners LLC purchased a new position in Rani Therapeutics in the fourth quarter valued at approximately $8,505,000. Armistice Capital LLC purchased a new position in Rani Therapeutics in the second quarter valued at approximately $1,619,000. Finally, Siren L.L.C. acquired a new stake in Rani Therapeutics during the fourth quarter worth approximately $2,700,000. Hedge funds and other institutional investors own 30.19% of the company’s stock.

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.