Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Stock Has Average Price Target of $8.75 According to Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Rani Therapeutics, with four buy ratings, one strong-buy, and one sell rating. The average 12-month price target is $8.75.
• Institutional investors own approximately 30.19% of the company; AWM Investment Company initiated a $5.7 million position, while Squarepoint Ops increased its stake by 155.5%.
• Rani shares opened at $0.64, near their 52-week low of $0.61, while the company recently beat quarterly EPS expectations and reported $1.71 million in revenue versus $0.93 million expected.

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $8.75.

A number of brokerages recently issued reports on RANI. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Rani Therapeutics in a report on Thursday. HC Wainwright reiterated a "buy" rating on shares of Rani Therapeutics in a research note on Tuesday, October 6th. Finally, Chardan Capital upgraded shares of Rani Therapeutics to a "strong-buy" rating in a research note on Wednesday, August 26th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RANI. AWM Investment Company Inc. purchased a new position in shares of Rani Therapeutics in the 2nd quarter valued at $5,703,000. Squarepoint Ops LLC raised its stake in Rani Therapeutics by 155.5% during the 2nd quarter. Squarepoint Ops LLC now owns 41,902 shares of the company's stock worth $32,000 after acquiring an additional 25,501 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its position in Rani Therapeutics by 4.1% in the first quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company's stock valued at $195,000 after acquiring an additional 10,347 shares during the last quarter. Institutional investors and hedge funds own 30.19% of the company's stock.

Rani Therapeutics Price Performance

Shares of NASDAQ RANI opened at $0.64 on Friday. The business has a 50-day moving average of $0.81 and a two-hundred day moving average of $0.83. The company has a market capitalization of $89.30 million, a price-to-earnings ratio of -2.37 and a beta of 0.69. Rani Therapeutics has a 1 year low of $0.61 and a 1 year high of $3.87.

Rani Therapeutics (NASDAQ:RANI - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. The business had revenue of $1.71 million during the quarter, compared to analysts' expectations of $0.93 million. As a group, equities research analysts expect that Rani Therapeutics will post -0.17 earnings per share for the current year.

Rani Therapeutics Company Profile

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.

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