Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives $11.71 Average Price Target from Brokerages

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has earned an average recommendation of “Buy” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $11.71.

Several research firms recently commented on RANI. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Rani Therapeutics in a research note on Friday, October 18th. Oppenheimer initiated coverage on shares of Rani Therapeutics in a research note on Friday, August 2nd. They set an “outperform” rating and a $17.00 price target for the company.

Rani Therapeutics Trading Up 2.1 %

RANI opened at $2.48 on Thursday. Rani Therapeutics has a one year low of $1.90 and a one year high of $8.75. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.93 and a current ratio of 1.93. The stock has a market cap of $132.46 million, a price-to-earnings ratio of -2.10 and a beta of 0.11. The stock’s 50 day moving average price is $2.45 and its 200-day moving average price is $3.63.

Rani Therapeutics (NASDAQ:RANI) last released its earnings results on Tuesday, August 6th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. On average, equities analysts forecast that Rani Therapeutics will post -0.98 EPS for the current year.

Insider Buying and Selling at Rani Therapeutics

In related news, major shareholder South Cone Investments Limited sold 3,829,360 shares of Rani Therapeutics stock in a transaction dated Tuesday, October 15th. The stock was 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 owns 8,302,194 shares of the company’s stock, valued at $22,000,814.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Rani Therapeutics stock. Vanguard Group Inc. raised its stake in shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 2.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 685,303 shares of the company’s stock after buying an additional 16,956 shares during the period. Vanguard Group Inc. owned about 1.37% of Rani Therapeutics worth $2,131,000 at the end of the most recent quarter. 30.19% of the stock is owned by hedge funds and other institutional investors.

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.