Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives Average Rating of “Buy” from Analysts

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have been assigned an average rating of “Buy” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $11.71.

Several research firms have recently commented on RANI. Oppenheimer began 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 on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Rani Therapeutics in a research note on Friday, October 18th.

Rani Therapeutics Stock Down 0.9 %

RANI stock opened at $2.32 on Thursday. The company has a 50-day moving average of $2.51 and a two-hundred day moving average of $3.77. The stock has a market capitalization of $123.90 million, a price-to-earnings ratio of -1.97 and a beta of 0.12. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.93 and a quick ratio of 1.93. Rani Therapeutics has a 52-week low of $1.82 and a 52-week high of $8.75.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.03. As a group, equities research analysts anticipate that Rani Therapeutics will post -0.98 EPS for the current year.

Insider Buying and Selling at Rani Therapeutics

In other Rani Therapeutics news, major shareholder South Cone Investments Limited sold 3,829,360 shares of Rani Therapeutics stock in a transaction 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 sale, the insider now directly owns 8,302,194 shares in the company, valued at approximately $22,000,814.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 53.30% of the company’s stock.

Institutional Trading of Rani Therapeutics

An institutional investor recently bought a new position in Rani Therapeutics stock. Marshall Wace LLP acquired a new stake in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 21,247 shares of the company’s stock, valued at approximately $81,000. Institutional investors and hedge funds own 30.19% of the company’s stock.

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.