Maxim Group upgraded shares of Rani Therapeutics (NASDAQ:RANI – Free Report) to a strong-buy rating in a report released on Thursday morning, Zacks.com reports.
Several other research firms have also weighed in on RANI. Rodman & Renshaw assumed coverage on shares of Rani Therapeutics in a research note on Thursday. They set a buy rating and a $10.00 price objective on the stock. Canaccord Genuity Group dropped their target price on Rani Therapeutics from $21.00 to $9.00 and set a buy rating for the company in a report on Wednesday, March 27th. HC Wainwright boosted their price objective on shares of Rani Therapeutics from $12.00 to $13.00 and gave the company a buy rating in a report on Tuesday, May 7th. Finally, BTIG Research raised their target price on shares of Rani Therapeutics from $7.00 to $14.00 and gave the stock a buy rating in a report on Thursday, May 9th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $12.29.
Check Out Our Latest Research Report on RANI
Rani Therapeutics Stock Performance
Rani Therapeutics (NASDAQ:RANI – Get Free Report) last announced its quarterly earnings data on Monday, May 6th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). As a group, sell-side analysts expect that Rani Therapeutics will post -1.02 earnings per share for the current fiscal year.
Institutional Trading of Rani Therapeutics
A hedge fund recently raised its stake in Rani Therapeutics stock. Vanguard Group Inc. boosted its holdings in shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI – Free Report) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 685,303 shares of the company’s stock after purchasing 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. Hedge funds and other institutional investors 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.
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