HC Wainwright Reiterates “Buy” Rating for Rani Therapeutics (NASDAQ:RANI)

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a report issued on Friday, Benzinga reports. They currently have a $20.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 437.63% from the stock’s previous close.

Other analysts also recently issued reports about the company. Wedbush restated an “outperform” rating and issued a $20.00 price target on shares of Rani Therapeutics in a research note on Wednesday, August 16th. Bank of America decreased their target price on shares of Rani Therapeutics from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, August 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Rani Therapeutics in a report on Monday, July 10th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Rani Therapeutics has an average rating of “Buy” and a consensus price target of $20.25.

Rani Therapeutics Stock Down 0.8 %

Shares of NASDAQ:RANI opened at $3.72 on Friday. The company has a market cap of $184.70 million, a price-to-earnings ratio of -2.70 and a beta of 0.36. Rani Therapeutics has a fifty-two week low of $3.60 and a fifty-two week high of $10.80. The firm’s 50-day simple moving average is $4.12 and its 200-day simple moving average is $4.74. The company has a quick ratio of 13.32, a current ratio of 13.32 and a debt-to-equity ratio of 0.61.

Rani Therapeutics (NASDAQ:RANI) last announced its quarterly earnings data on Friday, August 11th. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.03. As a group, equities research analysts predict that Rani Therapeutics will post -1.46 earnings per share for the current year.

Institutional Investors Weigh In On Rani Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in RANI. Prime Capital Investment Advisors LLC purchased a new stake in shares of Rani Therapeutics in the fourth quarter valued at about $198,000. Stifel Financial Corp lifted its stake in Rani Therapeutics by 116.1% in the 2nd quarter. Stifel Financial Corp now owns 76,760 shares of the company’s stock valued at $316,000 after buying an additional 41,243 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Rani Therapeutics during the 4th quarter valued at $227,000. Brown Advisory Inc. acquired a new stake in Rani Therapeutics during the 4th quarter valued at $200,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Rani Therapeutics in the third quarter worth $179,000. 6.64% of the stock is currently owned by hedge funds and other institutional investors.

Rani Therapeutics Company Profile

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.