Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives Consensus Recommendation of “Buy” from Analysts

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been assigned an average rating of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Seven equities 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 target price among brokerages that have updated their coverage on the stock in the last year is $12.29.

A number of equities analysts recently commented on RANI shares. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Rani Therapeutics in a research note on Tuesday. BTIG Research upped their price target on shares of Rani Therapeutics from $7.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Canaccord Genuity Group reduced their price objective on shares of Rani Therapeutics from $21.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Maxim Group initiated coverage on shares of Rani Therapeutics in a research note on Friday, June 14th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Rodman & Renshaw initiated coverage on shares of Rani Therapeutics in a research note on Thursday, June 13th. They issued a “buy” rating and a $10.00 price objective on the stock.

Rani Therapeutics Stock Performance

Shares of NASDAQ RANI opened at $3.94 on Friday. The firm’s fifty day moving average is $5.31 and its two-hundred day moving average is $4.18. Rani Therapeutics has a 52-week low of $1.82 and a 52-week high of $8.75. The company has a debt-to-equity ratio of 1.43, a quick ratio of 3.09 and a current ratio of 3.09. The company has a market cap of $198.65 million, a P/E ratio of -3.05 and a beta of 0.25.

Rani Therapeutics (NASDAQ:RANI) last posted its earnings results on Monday, May 6th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). As a group, analysts anticipate that Rani Therapeutics will post -1.05 EPS for the current fiscal year.

Institutional Trading of Rani Therapeutics

A hedge fund recently raised its stake in Rani Therapeutics stock. Vanguard Group Inc. raised its stake in shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 2.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 685,303 shares of the company’s stock after purchasing an additional 16,956 shares during the period. Vanguard Group Inc. owned 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.

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.