HC Wainwright Reiterates Buy Rating for Rani Therapeutics (NASDAQ:RANI)

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $9.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 235.82% from the stock’s current price.

Separately, Oppenheimer began coverage on shares of Rani Therapeutics in a report on Friday, August 2nd. They set an “outperform” rating and a $17.00 price objective on the stock. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $11.71.

Rani Therapeutics Stock Up 1.9 %

Shares of NASDAQ:RANI opened at $2.68 on Friday. Rani Therapeutics has a 12 month low of $1.82 and a 12 month high of $8.75. The company’s 50-day moving average price is $2.57 and its two-hundred day moving average price is $3.86. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 3.10. The firm has a market cap of $135.13 million, a P/E ratio of -2.08 and a beta of 0.12.

Rani Therapeutics (NASDAQ:RANI) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. As a group, research analysts forecast that Rani Therapeutics will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Rani Therapeutics

In other Rani Therapeutics news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $2.65, for a total transaction of $10,147,804.00. Following the transaction, the insider now directly 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 53.30% of the company’s stock.

Institutional Trading of Rani Therapeutics

A hedge fund recently bought a new stake in Rani Therapeutics stock. Marshall Wace LLP purchased a new stake in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) during the second quarter, according to its most recent filing with the SEC. The firm purchased 21,247 shares of the company’s stock, valued at approximately $81,000. 30.19% of the stock is currently 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.