Rani Therapeutics (NASDAQ:RANI) Stock Keeps "Buy" Rating at Chardan Capital

Key Points

• Chardan Capital reiterated a “Buy” rating on Rani Therapeutics, while analyst coverage overall remains moderately bullish: four analysts rate it Buy and one rates it Sell. The consensus price target is $8.33.
• RANI shares traded at $0.60, near their 12-month low of $0.59 and below both the 50-day and 200-day moving averages. The company has an $84.1 million market capitalization and a negative price-to-earnings ratio.
• Rani reported quarterly revenue of $1.71 million and an adjusted earnings loss of $0.04 per share, beating analyst estimates. The biotechnology company is developing the RaniPill, an oral delivery system for biologic and peptide medicines typically administered by injection.

Rani Therapeutics (NASDAQ:RANI - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Chardan Capital in a research report issued to clients and investors on Thursday, Benzinga reports.

RANI has been the topic of several other research reports. HC Wainwright reissued a "buy" rating on shares of Rani Therapeutics in a research report on Tuesday, October 6th. Weiss Ratings reissued a "sell (e+)" rating on shares of Rani Therapeutics in a research report on Thursday, October 15th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Rani Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $8.33.

Rani Therapeutics Price Performance

Shares of NASDAQ RANI traded down $0.00 during trading on Thursday, hitting $0.60. The stock had a trading volume of 116,701 shares, compared to its average volume of 913,046. The firm has a fifty day moving average of $0.80 and a two-hundred day moving average of $0.83. The company has a market capitalization of $84.06 million, a PE ratio of -2.23 and a beta of 0.69. Rani Therapeutics has a 12 month low of $0.59 and a 12 month high of $2.63.

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

Hedge Funds Weigh In On Rani Therapeutics

Several institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC raised its holdings in Rani Therapeutics by 155.5% during the 2nd quarter. Squarepoint Ops LLC now owns 41,902 shares of the company's stock valued at $32,000 after acquiring an additional 25,501 shares during the period. AWM Investment Company Inc. bought a new position in shares of Rani Therapeutics in the second quarter worth $5,703,000. Finally, Kestra Private Wealth Services LLC increased its holdings in shares of Rani Therapeutics by 4.1% in the first quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company's stock worth $195,000 after purchasing an additional 10,347 shares during the period. Hedge funds and other institutional investors own 30.19% of the company's stock.

About Rani Therapeutics

Rani Therapeutics Holdings, Inc is a biotechnology company developing oral delivery technologies for biologic medicines that are typically administered by injection. The company's platform is designed to transport therapeutic molecules through the stomach and release them in the small intestine, where they can be absorbed into the bloodstream.

Its primary technology, the RaniPill capsule, is a robotic oral delivery system intended to deliver biologics, peptides and other large-molecule therapies.