Maxim Group Issues Positive Forecast for Rani Therapeutics (NASDAQ:RANI) Stock Price

Rani Therapeutics (NASDAQ:RANI) had its price objective boosted by Maxim Group from $5.00 to $10.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently commented on the stock. Wall Street Zen raised shares of Rani Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Rani Therapeutics in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Rani Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

Rani Therapeutics Trading Up 37.2%

RANI opened at $2.25 on Monday. The stock has a market capitalization of $161.71 million, a P/E ratio of -2.47 and a beta of -0.02. Rani Therapeutics has a 12 month low of $0.39 and a 12 month high of $2.82. The firm’s fifty day simple moving average is $0.57 and its 200 day simple moving average is $0.66.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.01. On average, equities research analysts predict that Rani Therapeutics will post -1.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RANI. Armistice Capital LLC acquired a new position in shares of Rani Therapeutics during the 2nd quarter worth about $1,619,000. CWA Asset Management Group LLC acquired a new position in shares of Rani Therapeutics during the 1st quarter worth about $105,000. Well Done LLC acquired a new position in shares of Rani Therapeutics during the 2nd quarter worth about $27,000. Janney Montgomery Scott LLC increased its stake in shares of Rani Therapeutics by 102.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company’s stock worth $28,000 after purchasing an additional 28,000 shares during the last quarter. Finally, King Luther Capital Management Corp increased its stake in shares of Rani Therapeutics by 75.8% during the 1st quarter. King Luther Capital Management Corp now owns 58,000 shares of the company’s stock worth $73,000 after purchasing an additional 25,000 shares during the last quarter. 30.19% of the stock is currently owned by institutional investors and hedge funds.

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.