Rani Therapeutics (NASDAQ:RANI) Given New $5.00 Price Target at Canaccord Genuity Group

Rani Therapeutics (NASDAQ:RANI) had its price objective decreased by Canaccord Genuity Group from $9.00 to $5.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. HC Wainwright reiterated a “buy” rating and set a $11.00 price target on shares of Rani Therapeutics in a research note on Friday, March 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Rani Therapeutics in a research note on Friday, March 27th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

Rani Therapeutics Stock Up 9.6%

Shares of RANI opened at $0.81 on Wednesday. The company has a market capitalization of $97.86 million, a price-to-earnings ratio of -1.37 and a beta of 0.65. Rani Therapeutics has a 52-week low of $0.39 and a 52-week high of $3.87. The stock has a 50 day moving average price of $1.24 and a 200 day moving average price of $1.32.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings data on Thursday, March 26th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The business had revenue of $1.46 million for the quarter, compared to the consensus estimate of $5.00 million. On average, equities analysts anticipate that Rani Therapeutics will post -1.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Rani Therapeutics

A number of hedge funds have recently modified their holdings of RANI. Jefferies Financial Group Inc. purchased a new stake in Rani Therapeutics in the 4th quarter valued at $40,000. Virtu Financial LLC purchased a new position in Rani Therapeutics during the 4th quarter worth $69,000. OMERS ADMINISTRATION Corp purchased a new position in Rani Therapeutics during the 4th quarter worth $93,000. Farallon Capital Management LLC acquired a new position in Rani Therapeutics in the fourth quarter valued at $105,000. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Rani Therapeutics in the fourth quarter valued at about $155,000. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

Rani Therapeutics Company Profile

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.