Rani Therapeutics’ (RANI) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a research report report published on Friday, MarketBeat reports.

RANI has been the subject of several other research reports. Chardan Capital began coverage on Rani Therapeutics in a research report on Tuesday, August 18th. They set a “buy” rating for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $5.00 price target on shares of Rani Therapeutics in a research report on Wednesday, May 20th. Weiss Ratings lowered Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. Finally, Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $8.75.

Rani Therapeutics Price Performance

Shares of RANI opened at $0.88 on Friday. The stock has a market cap of $122.67 million, a price-to-earnings ratio of -3.26 and a beta of 0.78. Rani Therapeutics has a 12 month low of $0.44 and a 12 month high of $3.87. The company has a 50-day moving average price of $0.77 and a two-hundred day moving average price of $0.96.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $1.71 million for the quarter, compared to analyst estimates of $0.93 million. Equities research analysts expect that Rani Therapeutics will post -0.17 EPS for the current fiscal year.

Insider Activity at Rani Therapeutics

In other Rani Therapeutics news, CEO Talat Imran purchased 35,000 shares of the firm’s stock in a transaction that occurred on Friday, July 17th. The shares were acquired at an average cost of $0.72 per share, for a total transaction of $25,200.00. Following the transaction, the chief executive officer directly owned 469,736 shares in the company, valued at approximately $338,209.92. The trade was a 8.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 26.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Rani Therapeutics

Institutional investors have recently bought and sold shares of the business. Deutsche Bank AG bought a new stake in shares of Rani Therapeutics during the second quarter worth $125,000. Jefferies Financial Group Inc. acquired a new stake in shares of Rani Therapeutics in the fourth quarter valued at $40,000. Virtu Financial LLC bought a new position in shares of Rani Therapeutics in the fourth quarter valued at about $69,000. ADAR1 Capital Management LLC bought a new position in shares of Rani Therapeutics in the second quarter valued at about $285,000. Finally, Bank of New York Mellon Corp acquired a new position in Rani Therapeutics during the 2nd quarter worth about $328,000. Institutional investors own 30.19% of the company’s stock.

Rani Therapeutics Company Profile

Rani Therapeutics is a clinical-stage biopharmaceutical company developing oral delivery technologies for large-molecule drugs. The company’s proprietary RaniPill platform is designed to enable the gastrointestinal delivery of biologic therapies traditionally administered via injection. Through a swallowable capsule that autonomously deploys a microscopic injector in the small intestine, Rani aims to improve patient convenience and adherence for peptide and protein therapies, including insulin and other hormones.

Since its founding in 2012, Rani Therapeutics has advanced its lead programs through early-phase clinical trials, demonstrating proof-of-concept for oral insulin delivery.