Rani Therapeutics (NASDAQ:RANI) Upgraded by Chardan Capital to Strong-Buy Rating

Rani Therapeutics (NASDAQ:RANI) was upgraded by investment analysts at Chardan Capital to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Other analysts have also issued research reports about the company. Canaccord Genuity Group reissued a “buy” rating and set a $5.00 price objective on shares of Rani Therapeutics in a research note on Wednesday, May 20th. HC Wainwright reissued a “buy” rating on shares of Rani Therapeutics in a report on Friday, August 21st. Wall Street Zen upgraded shares of Rani Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Weiss Ratings downgraded shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.75.

Rani Therapeutics Trading Up 1.5%

NASDAQ RANI opened at $0.85 on Wednesday. The firm has a market cap of $119.07 million, a PE ratio of -3.16 and a beta of 0.78. Rani Therapeutics has a 1-year low of $0.44 and a 1-year high of $3.87. The stock has a 50-day moving average of $0.78 and a 200-day moving average of $0.95.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The company had revenue of $1.71 million for the quarter, compared to the consensus estimate of $0.93 million. As a group, equities research analysts forecast that Rani Therapeutics will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In other Rani Therapeutics news, CEO Talat Imran bought 35,000 shares of the firm’s stock in a transaction that occurred on Friday, July 17th. The stock was bought at an average price of $0.72 per share, for a total transaction of $25,200.00. Following the completion of the acquisition, the chief executive officer directly owned 469,736 shares in the company, valued at $338,209.92. The trade was a 8.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 26.73% of the company’s stock.

Institutional Trading of Rani Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RANI. Deutsche Bank AG purchased a new position in shares of Rani Therapeutics during the second quarter valued at about $125,000. Jefferies Financial Group Inc. bought a new position in Rani Therapeutics in the fourth quarter worth $40,000. Virtu Financial LLC purchased a new position in Rani Therapeutics during the 4th quarter valued at about $69,000. ADAR1 Capital Management LLC purchased a new position in shares of Rani Therapeutics during the second quarter valued at approximately $285,000. Finally, Bank of New York Mellon Corp bought a new stake in Rani Therapeutics in the second quarter worth $328,000. Hedge funds and other 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.