Chardan Capital Upgrades Rani Therapeutics (NASDAQ:RANI) to Strong-Buy

Key Points

• Chardan Capital upgraded Rani Therapeutics to “strong buy,” while analysts overall assign the stock a “Moderate Buy” consensus rating with an $8.75 average price target.
• Rani shares opened at $0.85, up 1.5%, with a market capitalization of approximately $119 million; the stock has traded between $0.44 and $3.87 over the past year.
• The company reported a quarterly loss of $0.04 per share, beating estimates by $0.01, while revenue of $1.71 million exceeded expectations of $0.93 million. CEO Talat Imran also purchased 35,000 shares, and insiders own 26.73% of the company.

Rani Therapeutics (NASDAQ:RANI - Get Free Report) was upgraded by research analysts at Chardan Capital to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

Several other research analysts have also recently weighed in on RANI. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $5.00 price target on shares of Rani Therapeutics in a report on Wednesday, May 20th. HC Wainwright reissued a "buy" rating on shares of Rani Therapeutics in a research note on Friday, August 21st. Wall Street Zen upgraded Rani Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, May 17th. Finally, Weiss Ratings lowered Rani Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $8.75.

Rani Therapeutics Stock Up 1.5%

Shares of RANI opened at $0.85 on Wednesday. The business's 50-day moving average price is $0.78 and its 200-day moving average price is $0.95. Rani Therapeutics has a twelve month low of $0.44 and a twelve month high of $3.87. The stock has a market cap of $119.07 million, a PE ratio of -3.16 and a beta of 0.78.

Rani Therapeutics (NASDAQ:RANI - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. The firm had revenue of $1.71 million for the quarter, compared to the consensus estimate of $0.93 million. Analysts expect that Rani Therapeutics will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Rani Therapeutics

In related news, CEO Talat Imran acquired 35,000 shares of the company's stock in a transaction dated Friday, July 17th. The stock was bought at an average cost of $0.72 per share, with a total value of $25,200.00. Following the acquisition, the chief executive officer owned 469,736 shares of the company's stock, valued at approximately $338,209.92. The trade was a 8.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 26.73% of the company's stock.

Institutional Investors Weigh In On Rani Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Spruce Street Capital LP purchased a new position in shares of Rani Therapeutics in the 2nd quarter worth about $8,039,593,000. AWM Investment Company Inc. purchased a new stake in Rani Therapeutics in the second quarter worth approximately $5,703,000. Almitas Capital LLC bought a new position in Rani Therapeutics during the second quarter valued at approximately $7,111,000. Seven Fleet Capital Management LP purchased a new position in shares of Rani Therapeutics during the second quarter worth approximately $1,011,299,000. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Rani Therapeutics in the 2nd quarter worth approximately $285,000. Hedge funds and other institutional investors own 30.19% of the company's stock.

About Rani Therapeutics

Rani Therapeutics is a clinical-stage biopharmaceutical company developing oral delivery technologies for large-molecule drugs. The company's proprietary RaniPill platform is designed to enable the gastrointestinal delivery of biologic therapies traditionally administered via injection. Through a swallowable capsule that autonomously deploys a microscopic injector in the small intestine, Rani aims to improve patient convenience and adherence for peptide and protein therapies, including insulin and other hormones.

Since its founding in 2012, Rani Therapeutics has advanced its lead programs through early-phase clinical trials, demonstrating proof-of-concept for oral insulin delivery.

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