Maxim Group Issues Positive Forecast for Rani Therapeutics (NASDAQ:RANI) Stock Price

Key Points

• Maxim Group has raised its price target for Rani Therapeutics from $5.00 to $10.00, suggesting a potential upside of 275.80% from its previous close and maintaining a "buy" rating on the stock.
• The stock has seen increased trading activity, with a significant rise on Monday, and currently has a market cap of $191.25 million.
• Despite the positive outlook from Maxim Group, other analysts have a mixed sentiment, with ratings ranging from a "buy" to a "sell," resulting in a consensus rating of "Moderate Buy" for the stock.

Rani Therapeutics (NASDAQ:RANI - Get Free Report) had its price objective raised by research analysts at Maxim Group from $5.00 to $10.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Maxim Group's target price indicates a potential upside of 275.80% from the stock's previous close.

Other analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Rani Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Rani Therapeutics in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Rani Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $8.00.

Rani Therapeutics Stock Performance

Shares of Rani Therapeutics stock traded up $1.02 on Monday, reaching $2.66. The stock had a trading volume of 131,331,838 shares, compared to its average volume of 4,087,572. The business's 50-day moving average price is $0.53 and its two-hundred day moving average price is $0.65. Rani Therapeutics has a fifty-two week low of $0.39 and a fifty-two week high of $2.80. The stock has a market cap of $191.25 million, a P/E ratio of -2.89 and a beta of -0.02.

Rani Therapeutics (NASDAQ:RANI - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.18) earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.01. As a group, equities analysts forecast that Rani Therapeutics will post -1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rani Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Armistice Capital LLC bought a new stake in Rani Therapeutics in the 2nd quarter valued at $1,619,000. Janney Montgomery Scott LLC increased its holdings in Rani Therapeutics by 102.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company's stock valued at $28,000 after buying an additional 28,000 shares during the period. Well Done LLC bought a new stake in Rani Therapeutics in the 2nd quarter valued at $27,000. King Luther Capital Management Corp increased its holdings in Rani Therapeutics by 75.8% in the 1st quarter. King Luther Capital Management Corp now owns 58,000 shares of the company's stock valued at $73,000 after buying an additional 25,000 shares during the period. Finally, Kestra Private Wealth Services LLC increased its holdings in Rani Therapeutics by 16.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 139,156 shares of the company's stock valued at $175,000 after buying an additional 19,536 shares during the period. Institutional investors own 30.19% of the company's stock.

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.

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