Lake Street Capital Initiates Coverage on Rani Therapeutics (NASDAQ:RANI)

Research analysts at Lake Street Capital began coverage on shares of Rani Therapeutics (NASDAQ:RANI) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $9.00 price target on the stock.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Rani Therapeutics in a report on Friday, March 27th. Canaccord Genuity Group reduced their target price on shares of Rani Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Finally, HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of Rani Therapeutics in a report on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.80.

Rani Therapeutics Stock Performance

Shares of Rani Therapeutics stock opened at $0.96 on Tuesday. The business’s 50 day simple moving average is $1.14 and its 200 day simple moving average is $1.34. Rani Therapeutics has a 52-week low of $0.39 and a 52-week high of $3.87. The firm has a market cap of $118.74 million, a PE ratio of -1.63 and a beta of 0.64.

Rani Therapeutics (NASDAQ:RANI) last announced its earnings results on Thursday, March 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The company had revenue of $1.46 million during the quarter, compared to analyst estimates of $5.00 million. As a group, equities research analysts predict that Rani Therapeutics will post -1.01 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Jefferies Financial Group Inc. acquired a new position in shares of Rani Therapeutics during the 4th quarter worth approximately $40,000. Virtu Financial LLC acquired a new position in shares of Rani Therapeutics during the 4th quarter worth approximately $69,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Rani Therapeutics during the 4th quarter worth approximately $93,000. Farallon Capital Management LLC acquired a new position in shares of Rani Therapeutics during the 4th quarter worth approximately $105,000. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Rani Therapeutics during the 4th quarter worth approximately $155,000. Institutional investors and hedge funds 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.