Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Given Average Recommendation of “Buy” by Brokerages

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has received a consensus rating of “Buy” from the seven brokerages that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $11.71.

RANI has been the topic of a number of recent research reports. Rodman & Renshaw began coverage on shares of Rani Therapeutics in a research note on Thursday, June 13th. They set a “buy” rating and a $10.00 price objective on the stock. Oppenheimer assumed coverage on Rani Therapeutics in a report on Friday, August 2nd. They issued an “outperform” rating and a $17.00 price target on the stock. HC Wainwright decreased their price objective on Rani Therapeutics from $13.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Finally, Maxim Group began coverage on Rani Therapeutics in a research note on Friday, June 14th. They issued a “buy” rating and a $15.00 target price on the stock.

Rani Therapeutics Trading Down 0.8 %

RANI opened at $2.37 on Wednesday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 3.10. The stock’s fifty day moving average is $2.94 and its two-hundred day moving average is $4.06. The company has a market capitalization of $119.50 million, a P/E ratio of -1.84 and a beta of 0.17. Rani Therapeutics has a 52 week low of $1.82 and a 52 week high of $8.75.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.03. Analysts forecast that Rani Therapeutics will post -0.98 earnings per share for the current year.

Institutional Investors Weigh In On Rani Therapeutics

A hedge fund recently raised its stake in Rani Therapeutics stock. Vanguard Group Inc. lifted its stake in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 2.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 685,303 shares of the company’s stock after purchasing an additional 16,956 shares during the quarter. Vanguard Group Inc. owned about 1.37% of Rani Therapeutics worth $2,131,000 as of its most recent SEC filing. Institutional investors and hedge funds own 30.19% of the company’s stock.

About Rani Therapeutics

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.