Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives $8.50 Average PT from Analysts

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have received an average recommendation of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $8.50.

Several equities research analysts have recently weighed in on RANI shares. HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of Rani Therapeutics in a report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rani Therapeutics in a research note on Monday, December 29th. Finally, Maxim Group raised their price target on shares of Rani Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, October 20th.

Rani Therapeutics Trading Down 5.5%

Shares of RANI opened at $1.21 on Wednesday. The company’s fifty day simple moving average is $1.44 and its 200-day simple moving average is $1.10. The company has a market cap of $147.03 million, a P/E ratio of -1.53 and a beta of 0.42. Rani Therapeutics has a twelve month low of $0.39 and a twelve month high of $3.87.

Rani Therapeutics (NASDAQ:RANI) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). Analysts predict that Rani Therapeutics will post -1.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Armistice Capital LLC bought a new stake in Rani Therapeutics during the 2nd quarter valued at $1,619,000. Citadel Advisors LLC increased its stake in shares of Rani Therapeutics by 199.0% during the third quarter. Citadel Advisors LLC now owns 452,542 shares of the company’s stock valued at $226,000 after buying an additional 301,193 shares during the period. Kestra Private Wealth Services LLC raised its holdings in shares of Rani Therapeutics by 44.8% in the third quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock valued at $113,000 after acquiring an additional 70,002 shares in the last quarter. CWA Asset Management Group LLC raised its holdings in shares of Rani Therapeutics by 80.0% in the third quarter. CWA Asset Management Group LLC now owns 150,000 shares of the company’s stock valued at $75,000 after acquiring an additional 66,667 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Rani Therapeutics by 102.9% in the second quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company’s stock worth $28,000 after acquiring an additional 28,000 shares during the period. Institutional investors own 30.19% of the company’s stock.

About Rani Therapeutics

Rani Therapeutics is a clinical-stage biopharmaceutical company developing oral delivery technologies for large-molecule drugs. The company’s proprietary RaniPill platform is designed to enable the gastrointestinal delivery of biologic therapies traditionally administered via injection. Through a swallowable capsule that autonomously deploys a microscopic injector in the small intestine, Rani aims to improve patient convenience and adherence for peptide and protein therapies, including insulin and other hormones.

Since its founding in 2012, Rani Therapeutics has advanced its lead programs through early-phase clinical trials, demonstrating proof-of-concept for oral insulin delivery.