Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $8.75.

A number of analysts recently weighed in on the company. Wall Street Zen upgraded Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Canaccord Genuity Group reiterated a “buy” rating and issued a $5.00 price target on shares of Rani Therapeutics in a research report on Wednesday, May 20th. Lake Street Capital started coverage on Rani Therapeutics in a research note on Tuesday, April 14th. They issued a “buy” rating and a $9.00 price target for the company. Finally, Weiss Ratings downgraded Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th.

Rani Therapeutics Stock Up 3.5%

Rani Therapeutics stock opened at $0.80 on Tuesday. Rani Therapeutics has a 12-month low of $0.44 and a 12-month high of $3.87. The business’s 50-day moving average price is $0.79 and its two-hundred day moving average price is $1.01. The stock has a market cap of $99.27 million, a PE ratio of -1.95 and a beta of 0.78.

Rani Therapeutics (NASDAQ:RANI) last issued its earnings results on Friday, May 15th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $1.71 million during the quarter, compared to analyst estimates of $1.12 million. As a group, analysts expect that Rani Therapeutics will post -0.17 earnings per share for the current year.

Insider Activity at Rani Therapeutics

In other Rani Therapeutics news, CEO Talat Imran purchased 35,000 shares of the business’s stock in a transaction on Friday, July 17th. The shares were purchased at an average cost of $0.72 per share, for a total transaction of $25,200.00. Following the acquisition, the chief executive officer owned 469,736 shares of the company’s stock, valued at approximately $338,209.92. This represents a 8.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 26.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rani Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Private Wealth Services LLC increased its position in Rani Therapeutics by 4.1% in the first quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company’s stock worth $195,000 after buying an additional 10,347 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Rani Therapeutics during the 4th quarter worth $40,000. Virtu Financial LLC purchased a new stake in Rani Therapeutics in the 4th quarter worth about $69,000. OMERS ADMINISTRATION Corp purchased a new stake in Rani Therapeutics during the fourth quarter valued at about $93,000. Finally, Farallon Capital Management LLC purchased a new stake in Rani Therapeutics during the fourth quarter valued at about $105,000. Institutional investors own 30.19% of the company’s stock.

Rani Therapeutics Company Profile

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.