Rani Therapeutics (NASDAQ:RANI) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Rani Therapeutics from hold to sell, adding to a mixed analyst picture around the stock.
• Despite the downgrade, most analysts remain bullish: five rate it Buy, one rates it Sell, and the consensus view is still Moderate Buy with an average price target of $7.80.
• Rani reported weaker-than-expected quarterly results, posting a loss of $0.07 per share versus an expected loss of $0.03 and revenue of $1.46 million versus $5.00 million estimated.

Rani Therapeutics (NASDAQ:RANI - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Several other equities analysts have also issued reports on the company. Canaccord Genuity Group dropped their price target on Rani Therapeutics from $9.00 to $5.00 and set a "buy" rating on the stock in a research note on Wednesday, April 1st. Lake Street Capital started coverage on Rani Therapeutics in a research note on Tuesday, April 14th. They issued a "buy" rating and a $9.00 price target on the stock. HC Wainwright reissued a "buy" rating and issued a $11.00 price target on shares of Rani Therapeutics in a research note on Friday, March 27th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rani Therapeutics in a research report on Friday, March 27th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Rani Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $7.80.

Get Rani Therapeutics SMS alerts:

Sign Up

Rani Therapeutics Stock Performance

Shares of RANI opened at $0.97 on Friday. Rani Therapeutics has a 52-week low of $0.39 and a 52-week high of $3.87. The business's 50 day moving average price is $1.05 and its two-hundred day moving average price is $1.38. The firm has a market cap of $119.42 million, a PE ratio of -1.64 and a beta of 0.74.

Rani Therapeutics (NASDAQ:RANI - Get Free Report) last issued its quarterly earnings results on Thursday, March 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The business had revenue of $1.46 million during the quarter, compared to analysts' expectations of $5.00 million. Research analysts predict that Rani Therapeutics will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Rani Therapeutics

A number of institutional investors have recently modified their holdings of the company. Kestra Private Wealth Services LLC grew its holdings in Rani Therapeutics by 4.1% during the first quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company's stock worth $195,000 after buying an additional 10,347 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Rani Therapeutics in the 4th quarter worth $69,000. Millennium Management LLC purchased a new stake in shares of Rani Therapeutics in the fourth quarter valued at about $220,000. Bridgeway Capital Management LLC bought a new position in shares of Rani Therapeutics during the fourth quarter valued at about $155,000. Finally, 683 Capital Management LLC purchased a new position in Rani Therapeutics during the fourth quarter worth about $658,000. 30.19% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.