Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives $9.40 Consensus PT from Brokerages

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have been assigned an average recommendation of “Buy” from the five ratings firms that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $9.40.

A number of equities analysts have issued reports on the company. HC Wainwright reiterated 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 reiterated a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a report on Wednesday, February 26th. Finally, Oppenheimer lowered their target price on Rani Therapeutics from $14.00 to $4.00 and set an “outperform” rating for the company in a report on Friday, May 16th.

Rani Therapeutics Price Performance

NASDAQ RANI opened at $0.62 on Thursday. The stock’s 50-day moving average is $1.08 and its two-hundred day moving average is $1.45. Rani Therapeutics has a fifty-two week low of $0.46 and a fifty-two week high of $5.74. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market cap of $35.45 million, a P/E ratio of -0.58 and a beta of 0.25.

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

Institutional Trading of Rani Therapeutics

Several institutional investors have recently modified their holdings of RANI. Janney Montgomery Scott LLC bought a new stake in Rani Therapeutics during the fourth quarter valued at $37,000. Virtu Financial LLC bought a new stake in Rani Therapeutics during the fourth quarter valued at $62,000. Takeda Pharmaceutical Co. Ltd. bought a new stake in Rani Therapeutics during the fourth quarter valued at $278,000. Insigneo Advisory Services LLC bought a new stake in Rani Therapeutics during the fourth quarter valued at $65,000. Finally, King Luther Capital Management Corp boosted its position in Rani Therapeutics by 75.8% during the first quarter. King Luther Capital Management Corp now owns 58,000 shares of the company’s stock valued at $73,000 after acquiring an additional 25,000 shares during the last quarter. Institutional investors own 30.19% of the company’s stock.

About Rani Therapeutics

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.