Rani Therapeutics (NASDAQ:RANI) Given “Buy” Rating at HC Wainwright

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $11.00 price target on the stock.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Rani Therapeutics in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.33.

Rani Therapeutics Stock Performance

NASDAQ RANI opened at $1.08 on Friday. The stock’s fifty day moving average is $1.29 and its two-hundred day moving average is $1.30. The firm has a market capitalization of $131.23 million, a P/E ratio of -1.37 and a beta of 0.39. Rani Therapeutics has a fifty-two week low of $0.39 and a fifty-two week high of $3.87.

Rani Therapeutics (NASDAQ:RANI) last issued its earnings results on Thursday, March 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The business had revenue of $1.46 million during the quarter, compared to the consensus estimate of $5.00 million. As a group, sell-side analysts forecast that Rani Therapeutics will post -1.01 EPS for the current year.

Hedge Funds Weigh In On Rani Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. purchased a new stake in Rani Therapeutics during the fourth quarter worth about $11,475,000. AWM Investment Company Inc. acquired a new stake in shares of Rani Therapeutics during the fourth quarter worth about $8,775,000. SymBiosis Capital Partners LLC purchased a new position in shares of Rani Therapeutics in the fourth quarter valued at approximately $8,505,000. Armistice Capital LLC acquired a new position in shares of Rani Therapeutics in the second quarter valued at approximately $1,619,000. Finally, Siren L.L.C. acquired a new position in shares of Rani Therapeutics in the fourth quarter valued at approximately $2,700,000. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

About Rani Therapeutics

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.