Rani Therapeutics (NASDAQ:RANI) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a report published on Tuesday morning, Benzinga reports. HC Wainwright currently has a $13.00 target price on the stock.

RANI has been the topic of a number of other reports. BTIG Research lifted their price objective on Rani Therapeutics from $7.00 to $14.00 and gave the stock a buy rating in a research note on Thursday, May 9th. Maxim Group initiated coverage on Rani Therapeutics in a research note on Friday, June 14th. They issued a buy rating and a $15.00 price objective on the stock. Rodman & Renshaw initiated coverage on Rani Therapeutics in a research note on Thursday, June 13th. They issued a buy rating and a $10.00 price objective on the stock. Finally, Canaccord Genuity Group cut their price objective on Rani Therapeutics from $21.00 to $9.00 and set a buy rating on the stock in a research note on Wednesday, March 27th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $12.29.

Rani Therapeutics Stock Performance

Shares of RANI stock opened at $3.94 on Tuesday. The business’s 50-day moving average price is $5.31 and its 200-day moving average price is $4.18. Rani Therapeutics has a 12 month low of $1.82 and a 12 month high of $8.75. The firm has a market capitalization of $198.65 million, a price-to-earnings ratio of -3.05 and a beta of 0.25. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 1.43.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). Equities research analysts forecast that Rani Therapeutics will post -1.05 EPS for the current year.

Institutional Investors Weigh In On Rani Therapeutics

A hedge fund recently raised its stake in Rani Therapeutics stock. Vanguard Group Inc. boosted its holdings in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 685,303 shares of the company’s stock after purchasing an additional 16,956 shares during the quarter. Vanguard Group Inc. owned about 1.37% of Rani Therapeutics worth $2,131,000 at the end of the most recent quarter. 30.19% of the stock is owned by institutional investors and hedge funds.

Rani Therapeutics Company Profile

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.