Rani Therapeutics (NASDAQ:RANI) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a report published on Friday morning, MarketBeat reports. They currently have a $9.00 price objective on the stock.

Separately, Oppenheimer assumed coverage on shares of Rani Therapeutics in a report on Friday, August 2nd. They issued an “outperform” rating and a $17.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Rani Therapeutics has an average rating of “Buy” and a consensus target price of $11.71.

Rani Therapeutics Price Performance

Rani Therapeutics stock opened at $2.57 on Friday. The company’s 50 day simple moving average is $2.57 and its 200-day simple moving average is $3.86. The company has a market capitalization of $129.58 million, a price-to-earnings ratio of -1.99 and a beta of 0.12. Rani Therapeutics has a 1 year low of $1.82 and a 1 year high of $8.75. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.93 and a current ratio of 1.93.

Rani Therapeutics (NASDAQ:RANI) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. As a group, equities research analysts expect that Rani Therapeutics will post -0.98 earnings per share for the current year.

Insiders Place Their Bets

In other Rani Therapeutics news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $2.65, for a total transaction of $10,147,804.00. Following the completion of the transaction, the insider now owns 8,302,194 shares in the company, valued at $22,000,814.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 53.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Rani Therapeutics stock. Marshall Wace LLP acquired a new position in shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 21,247 shares of the company’s stock, valued at approximately $81,000. Institutional investors and hedge funds own 30.19% of the company’s stock.

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.