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

Key Points

• HC Wainwright has reaffirmed a Buy rating for Rani Therapeutics with a price target of $11.00, indicating a potential upside of 388.89% from its current stock price.
• Rani Therapeutics has experienced a 37.2% increase in stock price recently, reflecting positive market sentiment amid mixed analyst recommendations.
• Institutional investors hold approximately 30.19% of Rani Therapeutics' shares, indicating significant interest and investment in the company.

Rani Therapeutics (NASDAQ:RANI - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $11.00 price objective on the stock. HC Wainwright's price objective points to a potential upside of 388.89% from the stock's previous close.

Several other research analysts have also issued reports on the stock. Wall Street Zen raised shares of Rani Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Maxim Group upped their price objective on shares of Rani Therapeutics from $5.00 to $10.00 and gave the stock a "buy" rating in a report on Monday. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Rani Therapeutics in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $8.50.

Rani Therapeutics Stock Up 37.2%

Shares of NASDAQ RANI opened at $2.25 on Tuesday. The firm has a market cap of $161.71 million, a PE ratio of -2.47 and a beta of -0.02. Rani Therapeutics has a 12-month low of $0.39 and a 12-month high of $2.82. The company's fifty day simple moving average is $0.57 and its 200 day simple moving average is $0.66.

Rani Therapeutics (NASDAQ:RANI - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.01. On average, equities analysts predict that Rani Therapeutics will post -1.01 earnings per share for the current year.

Institutional Trading of Rani Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Armistice Capital LLC purchased a new stake in Rani Therapeutics during the second quarter worth about $1,619,000. Janney Montgomery Scott LLC boosted its position in Rani Therapeutics by 102.9% during the second quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company's stock worth $28,000 after purchasing an additional 28,000 shares during the period. Well Done LLC bought a new position in Rani Therapeutics during the second quarter worth about $27,000. King Luther Capital Management Corp boosted its position in Rani Therapeutics by 75.8% during the first quarter. King Luther Capital Management Corp now owns 58,000 shares of the company's stock worth $73,000 after purchasing an additional 25,000 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its position in shares of Rani Therapeutics by 16.3% in the first quarter. Kestra Private Wealth Services LLC now owns 139,156 shares of the company's stock valued at $175,000 after acquiring an additional 19,536 shares during the period. Hedge funds and other institutional investors own 30.19% of the company's stock.

Rani Therapeutics Company Profile

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.

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