Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives $11.71 Consensus Price Target from Analysts

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has received a consensus recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $11.71.

RANI has been the subject of a number of analyst reports. Maxim Group assumed coverage on Rani Therapeutics in a report on Friday, June 14th. They issued a “buy” rating and a $15.00 price target for the company. Oppenheimer started coverage on Rani Therapeutics in a research note on Friday, August 2nd. They set an “outperform” rating and a $17.00 price target on the stock. Rodman & Renshaw started coverage on Rani Therapeutics in a research note on Thursday, June 13th. They set a “buy” rating and a $10.00 price target on the stock. Finally, HC Wainwright reduced their price objective on Rani Therapeutics from $13.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, August 16th.

Rani Therapeutics Stock Up 5.3 %

Shares of RANI stock opened at $2.40 on Wednesday. Rani Therapeutics has a 1-year low of $1.82 and a 1-year high of $8.75. The stock’s fifty day moving average price is $2.89 and its 200 day moving average price is $4.04. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.93 and a quick ratio of 1.93. The company has a market cap of $128.18 million, a price-to-earnings ratio of -1.86 and a beta of 0.17.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.03. On average, research analysts expect that Rani Therapeutics will post -0.98 earnings per share for the current fiscal year.

Institutional Trading of Rani Therapeutics

A hedge fund recently raised its stake in Rani Therapeutics stock. Vanguard Group Inc. grew its stake in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 2.5% during the first quarter, according to the company in its most recent 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 approximately 1.37% of Rani Therapeutics worth $2,131,000 as of its most recent filing with the SEC. 30.19% of the stock is owned by hedge funds and other institutional investors.

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.