Analysts Set Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) PT at $12.33

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been assigned a consensus rating of “Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $12.33.

RANI has been the topic of a number of research reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a research note on Wednesday, February 26th. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Rani Therapeutics in a research report on Friday, February 7th.

Institutional Investors Weigh In On Rani Therapeutics

A number of institutional investors have recently made changes to their positions in RANI. Geode Capital Management LLC lifted its stake in shares of Rani Therapeutics by 14.3% in the third quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock worth $372,000 after acquiring an additional 21,527 shares during the period. Janney Montgomery Scott LLC bought a new position in Rani Therapeutics during the 4th quarter worth approximately $37,000. Virtu Financial LLC acquired a new position in shares of Rani Therapeutics in the 4th quarter worth approximately $62,000. Insigneo Advisory Services LLC bought a new stake in shares of Rani Therapeutics in the 4th quarter valued at $65,000. Finally, Two Sigma Advisers LP acquired a new stake in shares of Rani Therapeutics during the fourth quarter worth $151,000. Institutional investors own 30.19% of the company’s stock.

Rani Therapeutics Price Performance

Shares of RANI stock opened at $1.23 on Friday. Rani Therapeutics has a twelve month low of $1.20 and a twelve month high of $8.75. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 2.34. The business has a fifty day simple moving average of $1.51 and a 200 day simple moving average of $1.82. The company has a market cap of $70.47 million, a P/E ratio of -1.16 and a beta of 0.14.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings results on Monday, March 31st. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). The firm had revenue of $1.03 million for the quarter. On average, sell-side analysts forecast that Rani Therapeutics will post -1.01 EPS for the current fiscal year.

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.