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

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

RANI has been the topic of a number of recent analyst reports. Oppenheimer initiated coverage on Rani Therapeutics in a research report on Friday, August 2nd. They set an “outperform” rating and a $17.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a research note on Friday, October 18th.

Rani Therapeutics Stock Performance

RANI opened at $2.48 on Thursday. The firm has a fifty day moving average price of $2.45 and a 200 day moving average price of $3.63. Rani Therapeutics has a 1 year low of $1.90 and a 1 year high of $8.75. The stock has a market cap of $132.46 million, a P/E ratio of -2.10 and a beta of 0.11. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.93 and a quick ratio of 1.93.

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

Insider Transactions at Rani Therapeutics

In other Rani Therapeutics news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $2.65, for a total value of $10,147,804.00. Following the completion of the sale, the insider now owns 8,302,194 shares in the company, valued at approximately $22,000,814.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 53.30% of the company’s stock.

Institutional Investors Weigh In On Rani Therapeutics

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

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.