Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives $12.29 Average Target Price from Analysts

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have been given an average rating of “Buy” by the eight brokerages that are currently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $12.29.

Several equities research analysts have recently weighed in on the stock. Maxim Group began coverage on shares of Rani Therapeutics in a research report on Friday, June 14th. They issued a “buy” rating and a $15.00 target price for the company. BTIG Research upped their price objective on Rani Therapeutics from $7.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Canaccord Genuity Group decreased their target price on Rani Therapeutics from $21.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Rodman & Renshaw began coverage on Rani Therapeutics in a research report on Thursday, June 13th. They set a “buy” rating and a $10.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and set a $13.00 price objective on shares of Rani Therapeutics in a research note on Tuesday, June 25th.

Institutional Trading of Rani Therapeutics

A hedge fund recently raised its stake in Rani Therapeutics stock. Vanguard Group Inc. grew its holdings in shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 2.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 685,303 shares of the company’s stock after acquiring an additional 16,956 shares during the quarter. Vanguard Group Inc. owned about 1.37% of Rani Therapeutics worth $2,131,000 as of its most recent SEC filing. 30.19% of the stock is currently owned by institutional investors and hedge funds.

Rani Therapeutics Stock Down 3.6 %

Shares of Rani Therapeutics stock opened at $3.80 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 3.09 and a quick ratio of 3.09. Rani Therapeutics has a 1-year low of $1.82 and a 1-year high of $8.75. The business has a 50-day moving average of $5.25 and a 200-day moving average of $4.20. The company has a market capitalization of $191.60 million, a PE ratio of -2.95 and a beta of 0.25.

Rani Therapeutics (NASDAQ:RANI) last released its earnings results on Monday, May 6th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.06). As a group, equities analysts forecast that Rani Therapeutics will post -1.05 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.