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

Rani Therapeutics (NASDAQ:RANIGet Free Report)‘s stock had its “buy” rating reissued by HC Wainwright in a research note issued on Friday,Benzinga reports.

Other analysts also recently issued research reports about the company. Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Chardan Capital started coverage on Rani Therapeutics in a research note on Tuesday. They issued a “buy” rating on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $5.00 price target on shares of Rani Therapeutics in a report on Wednesday, May 20th. Finally, Weiss Ratings lowered shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

Get Our Latest Stock Analysis on RANI

Rani Therapeutics Stock Down 7.2%

RANI stock opened at $0.85 on Friday. The stock’s 50 day moving average is $0.77 and its two-hundred day moving average is $0.96. The company has a market capitalization of $105.42 million, a PE ratio of -3.15 and a beta of 0.78. Rani Therapeutics has a 52-week low of $0.44 and a 52-week high of $3.87.

Rani Therapeutics (NASDAQ:RANIGet Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $1.71 million during the quarter, compared to analyst estimates of $0.93 million. As a group, sell-side analysts anticipate that Rani Therapeutics will post -0.17 EPS for the current year.

Insider Activity at Rani Therapeutics

In other news, CEO Talat Imran acquired 35,000 shares of the business’s stock in a transaction dated Friday, July 17th. The stock was acquired at an average price of $0.72 per share, for a total transaction of $25,200.00. Following the completion of the acquisition, the chief executive officer directly owned 469,736 shares in the company, valued at $338,209.92. This represents a 8.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 26.73% of the company’s stock.

Institutional Trading of Rani Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Almitas Capital LLC acquired a new stake in Rani Therapeutics during the second quarter valued at approximately $7,111,000. Seven Fleet Capital Management LP acquired a new position in Rani Therapeutics in the second quarter worth approximately $1,011,299,000. Bank of America Corp DE acquired a new position in Rani Therapeutics in the second quarter worth approximately $706,000. ADAR1 Capital Management LLC bought a new position in shares of Rani Therapeutics in the second quarter valued at $285,000. Finally, BlackRock Inc. bought a new position in shares of Rani Therapeutics in the second quarter valued at $8,061,000. 30.19% of the stock is currently owned by institutional investors.

About Rani Therapeutics

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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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Analyst Recommendations for Rani Therapeutics (NASDAQ:RANI)

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