Analysts Set Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Target Price at $11.71

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have earned an average recommendation of “Buy” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $11.71.

RANI has been the subject of a number of research analyst reports. Oppenheimer began coverage on Rani Therapeutics in a report on Friday, August 2nd. They issued an “outperform” rating and a $17.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a research note on Friday, October 18th.

Rani Therapeutics Stock Up 4.3 %

Shares of RANI opened at $2.41 on Thursday. The company’s fifty day moving average is $2.47 and its two-hundred day moving average is $3.66. Rani Therapeutics has a fifty-two week low of $1.87 and a fifty-two week high of $8.75. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 3.10. The firm has a market cap of $128.71 million, a PE ratio of -2.04 and a beta of 0.11.

Rani Therapeutics (NASDAQ:RANI) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.03. Analysts forecast that Rani Therapeutics will post -0.98 earnings per share for the current year.

Insider Activity at Rani Therapeutics

In related news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the firm’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 sale, the insider now directly owns 8,302,194 shares in the company, valued at approximately $22,000,814.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 53.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Rani Therapeutics stock. Vanguard Group Inc. boosted its holdings in shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 685,303 shares of the company’s stock after acquiring an additional 16,956 shares during the quarter. Vanguard Group Inc. owned approximately 1.37% of Rani Therapeutics worth $2,131,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 30.19% of the company’s stock.

Rani Therapeutics Company Profile

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.