Rani Therapeutics (NASDAQ:RANI) Earns Buy Rating from Analysts at Lake Street Capital

Key Points

• Lake Street Capital initiated coverage of Rani Therapeutics (NASDAQ:RANI) with a Buy rating and a $9.00 price target; the stock's consensus is a Moderate Buy (five Buys, one Sell) with an average target of $7.80.
• Shares traded at $0.81 (up 4.6%) with a market cap of ~$100.6M, and the company recently missed expectations—Q EPS of ($0.07) vs. ($0.03) expected and revenue $1.46M vs. $5.0M—while analysts expect a FY EPS of −1.01.
• Rani is a clinical-stage biopharma developing the RaniPill for oral delivery of biologics (proof-of-concept shown for oral insulin), and institutional investors—most notably RA Capital's $11.475M stake—now account for about 30.19% of shares.

Investment analysts at Lake Street Capital started coverage on shares of Rani Therapeutics (NASDAQ:RANI - Get Free Report) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $9.00 price target on the stock.

RANI has been the subject of a number of other reports. HC Wainwright reiterated a "buy" rating and issued a $11.00 price target on shares of Rani Therapeutics in a report on Friday, March 27th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rani Therapeutics in a report on Friday, March 27th. Finally, Canaccord Genuity Group lowered their price target on Rani Therapeutics from $9.00 to $5.00 and set a "buy" rating for the company in a report on Wednesday, April 1st. Five 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, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $7.80.

Rani Therapeutics Stock Up 4.6%

Shares of RANI traded up $0.04 during trading on Tuesday, reaching $0.81. The company's stock had a trading volume of 182,163 shares, compared to its average volume of 1,139,929. The company has a fifty day moving average of $1.16 and a two-hundred day moving average of $1.34. Rani Therapeutics has a twelve month low of $0.39 and a twelve month high of $3.87. The company has a market cap of $100.56 million, a price-to-earnings ratio of -1.37 and a beta of 0.64.

Rani Therapeutics (NASDAQ:RANI - Get Free Report) last announced its earnings results on Thursday, March 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.04). The business had revenue of $1.46 million during the quarter, compared to the consensus estimate of $5.00 million. As a group, equities analysts forecast that Rani Therapeutics will post -1.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in Rani Therapeutics during the 4th quarter worth $69,000. Millennium Management LLC acquired a new position in Rani Therapeutics during the 4th quarter worth $220,000. Bridgeway Capital Management LLC acquired a new position in Rani Therapeutics during the 4th quarter worth $155,000. 683 Capital Management LLC acquired a new position in Rani Therapeutics during the 4th quarter worth $658,000. Finally, RA Capital Management L.P. acquired a new position in Rani Therapeutics during the 4th quarter worth $11,475,000. 30.19% of the stock is currently owned by institutional investors.

Rani Therapeutics Company Profile

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.

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