Rani Therapeutics (NASDAQ:RANI) PT Lowered to $16.00 at HC Wainwright

Rani Therapeutics (NASDAQ:RANI) had its target price lowered by HC Wainwright from $20.00 to $16.00 in a report issued on Thursday, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on the company. Wedbush reiterated an outperform rating and set a $20.00 price objective on shares of Rani Therapeutics in a research report on Wednesday, August 16th. Bank of America cut their price objective on Rani Therapeutics from $19.00 to $17.00 and set a buy rating for the company in a research report on Monday, August 21st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $19.25.

Rani Therapeutics Stock Performance

Shares of NASDAQ RANI opened at $1.98 on Thursday. The stock has a fifty day moving average price of $2.43 and a two-hundred day moving average price of $3.64. The company has a debt-to-equity ratio of 0.81, a quick ratio of 13.32 and a current ratio of 8.61. The firm has a market cap of $98.31 million, a P/E ratio of -1.40 and a beta of 0.64. Rani Therapeutics has a 1 year low of $1.82 and a 1 year high of $8.99.

Rani Therapeutics (NASDAQ:RANI) last issued its quarterly earnings results on Friday, August 11th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.03. Research analysts forecast that Rani Therapeutics will post -1.44 EPS for the current fiscal year.

Institutional Trading of Rani Therapeutics

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in shares of Rani Therapeutics by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 97,185 shares of the company’s stock worth $573,000 after acquiring an additional 2,653 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Rani Therapeutics by 7.1% during the first quarter. Renaissance Technologies LLC now owns 41,117 shares of the company’s stock worth $212,000 after acquiring an additional 2,717 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Rani Therapeutics by 83.7% during the second quarter. Tower Research Capital LLC TRC now owns 7,048 shares of the company’s stock worth $29,000 after acquiring an additional 3,211 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Rani Therapeutics by 1.6% during the first quarter. Vanguard Group Inc. now owns 290,107 shares of the company’s stock worth $3,916,000 after acquiring an additional 4,561 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Rani Therapeutics by 352.2% during the second quarter. JPMorgan Chase & Co. now owns 6,525 shares of the company’s stock worth $27,000 after acquiring an additional 5,082 shares in the last quarter. Hedge funds and other institutional investors own 6.64% 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.