FY2024 Earnings Forecast for RANI Issued By Zacks Small Cap

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) – Investment analysts at Zacks Small Cap lifted their FY2024 earnings per share estimates for Rani Therapeutics in a research note issued to investors on Wednesday, November 20th. Zacks Small Cap analyst J. Vandermosten now anticipates that the company will earn ($1.06) per share for the year, up from their previous forecast of ($1.10). The consensus estimate for Rani Therapeutics’ current full-year earnings is ($0.99) per share.

Other equities analysts have also issued research reports about the stock. Oppenheimer began coverage on shares of Rani Therapeutics in a report on Friday, August 2nd. They set an “outperform” rating and a $17.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Rani Therapeutics in a research note on Tuesday, November 19th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Rani Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $11.71.

Rani Therapeutics Stock Performance

RANI stock opened at $2.08 on Monday. The company has a market capitalization of $119.16 million, a PE ratio of -1.96 and a beta of 0.11. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.60 and a current ratio of 1.60. Rani Therapeutics has a one year low of $1.90 and a one year high of $8.75. The company’s 50 day moving average price is $2.33 and its two-hundred day moving average price is $3.18.

Insider Transactions at Rani Therapeutics

In other news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $2.65, for a total value of $10,147,804.00. Following the transaction, the insider now owns 8,302,194 shares in the company, valued at $22,000,814.10. This represents a 31.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 53.30% of the company’s stock.

Institutional Trading of Rani Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp boosted its holdings in Rani Therapeutics by 100.4% in the 3rd quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock worth $583,000 after buying an additional 135,148 shares during the period. King Luther Capital Management Corp lifted its position in shares of Rani Therapeutics by 44.5% in the third quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock valued at $175,000 after acquiring an additional 25,000 shares in the last quarter. Geode Capital Management LLC boosted 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. Marshall Wace LLP purchased a new stake in shares of Rani Therapeutics during the second quarter worth about $81,000. Finally, Vanguard Group Inc. raised its stake in Rani Therapeutics by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock valued at $2,131,000 after purchasing an additional 16,956 shares during the period. Hedge funds and other institutional investors 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.