Oppenheimer Has Lowered Expectations for Rani Therapeutics (NASDAQ:RANI) Stock Price

Rani Therapeutics (NASDAQ:RANI) had its price target reduced by equities researchers at Oppenheimer from $14.00 to $4.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock.

Several other equities analysts have also weighed in on the stock. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a report on Thursday, April 3rd. Canaccord Genuity Group restated a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a report on Wednesday, February 26th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $9.40.

Rani Therapeutics Stock Up 12.2%

Shares of NASDAQ RANI opened at $0.64 on Friday. Rani Therapeutics has a 52-week low of $0.46 and a 52-week high of $5.74. The firm has a fifty day moving average of $1.16 and a 200-day moving average of $1.51. The stock has a market capitalization of $36.82 million, a PE ratio of -0.60 and a beta of 0.25. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 2.34.

Rani Therapeutics (NASDAQ:RANI) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.22). The company had revenue of $0.20 million for the quarter. On average, analysts anticipate that Rani Therapeutics will post -1.01 EPS for the current year.

Hedge Funds Weigh In On Rani Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP acquired a new position in Rani Therapeutics in the 4th quarter worth $399,000. Takeda Pharmaceutical Co. Ltd. acquired a new position in Rani Therapeutics in the 4th quarter worth $278,000. Kestra Private Wealth Services LLC raised its stake in shares of Rani Therapeutics by 16.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 139,156 shares of the company’s stock valued at $175,000 after purchasing an additional 19,536 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Rani Therapeutics in the 4th quarter valued at about $151,000. Finally, CWA Asset Management Group LLC bought a new stake in shares of Rani Therapeutics during the 1st quarter valued at about $105,000. Institutional investors and hedge funds own 30.19% of the company’s stock.

Rani Therapeutics Company Profile

Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics for patients, physicians, and healthcare systems in the United States. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including oligonucleotides, peptides, proteins, and antibodies.