What is Zacks Small Cap’s Forecast for RANI FY2024 Earnings?

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) – Analysts at Zacks Small Cap raised their FY2024 earnings per share estimates for shares of Rani Therapeutics in a research note issued to investors on Wednesday, November 20th. Zacks Small Cap analyst J. Vandermosten now expects that the company will post earnings per share of ($1.06) for the year, up from their prior forecast of ($1.10). The consensus estimate for Rani Therapeutics’ current full-year earnings is ($1.00) per share.

RANI has been the subject of several other research reports. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Rani Therapeutics in a research report on Tuesday, November 19th. Oppenheimer started coverage on Rani Therapeutics in a report on Friday, August 2nd. They issued an “outperform” rating and a $17.00 target price for the company. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $11.71.

Rani Therapeutics Price Performance

RANI stock opened at $2.08 on Monday. The firm has a 50-day moving average of $2.33 and a two-hundred day moving average of $3.21. The firm has a market capitalization of $119.16 million, a PE ratio of -1.96 and a beta of 0.11. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.34. Rani Therapeutics has a one year low of $1.90 and a one year high of $8.75.

Insiders Place Their Bets

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 stock was sold at an average price of $2.65, for a total value of $10,147,804.00. Following the transaction, the insider now directly owns 8,302,194 shares of the company’s stock, valued at $22,000,814.10. This represents a 31.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 53.30% of the company’s stock.

Institutional Investors Weigh In On Rani Therapeutics

Several institutional investors have recently made changes to their positions in RANI. Marshall Wace LLP bought a new position in Rani Therapeutics during the second quarter valued at approximately $81,000. Vanguard Group Inc. increased its stake in shares of Rani Therapeutics by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock worth $2,131,000 after purchasing an additional 16,956 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Rani Therapeutics by 14.3% during the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock valued at $372,000 after purchasing an additional 21,527 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of Rani Therapeutics by 100.4% in the 3rd quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock valued at $583,000 after purchasing an additional 135,148 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its holdings in Rani Therapeutics by 44.5% in the third quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock worth $175,000 after purchasing an additional 25,000 shares in the last quarter. 30.19% of the stock is currently 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.