Rani Therapeutics (NASDAQ:RANI) Upgraded by Chardan Capital to “Strong-Buy” Rating

Chardan Capital upgraded shares of Rani Therapeutics (NASDAQ:RANI) to a strong-buy rating in a report released on Wednesday,Zacks.com reports.

RANI has been the subject of several other reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $5.00 target price on shares of Rani Therapeutics in a report on Wednesday, May 20th. HC Wainwright reiterated a “buy” rating on shares of Rani Therapeutics in a report on Friday, August 21st. Weiss Ratings downgraded shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Rani Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $8.75.

Rani Therapeutics Trading Up 1.5%

NASDAQ RANI opened at $0.85 on Wednesday. Rani Therapeutics has a 12 month low of $0.44 and a 12 month high of $3.87. The stock’s fifty day moving average price is $0.78 and its 200-day moving average price is $0.95. The stock has a market cap of $119.07 million, a P/E ratio of -3.16 and a beta of 0.78.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly 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 company had revenue of $1.71 million during the quarter, compared to analysts’ expectations of $0.93 million. As a group, analysts forecast that Rani Therapeutics will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Talat Imran bought 35,000 shares of the firm’s stock in a transaction on Friday, July 17th. The stock was acquired at an average cost of $0.72 per share, for a total transaction of $25,200.00. Following the purchase, the chief executive officer owned 469,736 shares in the company, valued at approximately $338,209.92. This represents a 8.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 26.73% of the company’s stock.

Institutional Trading of Rani Therapeutics

Large investors have recently modified their holdings of the company. RA Capital Management L.P. purchased a new stake in Rani Therapeutics during the fourth quarter valued at $11,475,000. AWM Investment Company Inc. bought a new stake in shares of Rani Therapeutics during the 2nd quarter valued at about $5,703,000. SymBiosis Capital Partners LLC purchased a new stake in shares of Rani Therapeutics during the 4th quarter valued at about $8,505,000. Armistice Capital LLC purchased a new stake in shares of Rani Therapeutics during the 2nd quarter valued at about $1,619,000. Finally, Siren L.L.C. bought a new position in shares of Rani Therapeutics in the 4th quarter worth approximately $2,700,000. 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.