Rani Therapeutics Holdings, Inc. (NASDAQ:RANI – Get Free Report) has been given an average recommendation of “Moderate Buy” by the five brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $8.75.
Several research firms recently weighed in on RANI. Weiss Ratings lowered Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 17th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $5.00 price objective on shares of Rani Therapeutics in a research note on Wednesday, May 20th. Wall Street Zen upgraded shares of Rani Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Lake Street Capital assumed coverage on shares of Rani Therapeutics in a research note on Tuesday, April 14th. They issued a “buy” rating and a $9.00 target price on the stock.
View Our Latest Stock Report on RANI
Rani Therapeutics Trading Up 1.4%
Rani Therapeutics (NASDAQ:RANI – Get Free Report) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $1.71 million for the quarter, compared to analysts’ expectations of $1.12 million. On average, research analysts forecast that Rani Therapeutics will post -0.17 earnings per share for the current fiscal year.
Insider Activity at Rani Therapeutics
In other news, CEO Talat Imran purchased 35,000 shares of the business’s stock in a transaction that occurred on Friday, July 17th. The shares were bought at an average cost of $0.72 per share, for a total transaction of $25,200.00. Following the acquisition, the chief executive officer owned 469,736 shares of the company’s stock, valued at approximately $338,209.92. This trade represents a 8.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 26.73% of the company’s stock.
Institutional Trading of Rani Therapeutics
Several institutional investors have recently added to or reduced their stakes in RANI. Jefferies Financial Group Inc. bought a new position in shares of Rani Therapeutics during the fourth quarter valued at approximately $40,000. Virtu Financial LLC bought a new stake in shares of Rani Therapeutics during the 4th quarter worth approximately $69,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Rani Therapeutics during the 4th quarter worth approximately $93,000. Farallon Capital Management LLC bought a new stake in shares of Rani Therapeutics during the 4th quarter worth approximately $105,000. Finally, Kestra Private Wealth Services LLC boosted its holdings in Rani Therapeutics by 44.8% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock valued at $113,000 after acquiring an additional 70,002 shares during the period. Institutional investors own 30.19% of the company’s stock.
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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