Stock analysts at Oppenheimer began coverage on shares of Rani Therapeutics (NASDAQ:RANI – Get Free Report) in a note issued to investors on Friday, Briefing.com reports. The brokerage set an “outperform” rating and a $17.00 price target on the stock.
A number of other research analysts have also recently weighed in on the company. BTIG Research lifted their target price on Rani Therapeutics from $7.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, May 9th. HC Wainwright reiterated a “buy” rating and issued a $13.00 target price on shares of Rani Therapeutics in a report on Tuesday, June 25th. Rodman & Renshaw started coverage on Rani Therapeutics in a research note on Thursday, June 13th. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Maxim Group started coverage on Rani Therapeutics in a research note on Friday, June 14th. They set a “buy” rating and a $15.00 price objective on the stock. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $12.88.
Check Out Our Latest Research Report on RANI
Rani Therapeutics Stock Performance
Rani Therapeutics (NASDAQ:RANI – Get Free Report) last released its quarterly earnings results on Monday, May 6th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.06). On average, analysts anticipate that Rani Therapeutics will post -1.05 EPS for the current fiscal year.
Institutional Investors Weigh In On Rani Therapeutics
An institutional investor recently raised its position in Rani Therapeutics stock. Vanguard Group Inc. boosted its position in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI – Free Report) by 2.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 685,303 shares of the company’s stock after purchasing an additional 16,956 shares during the period. Vanguard Group Inc. owned approximately 1.37% of Rani Therapeutics worth $2,131,000 as of its most recent SEC filing. 30.19% of the stock is owned by hedge funds and other institutional investors.
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.
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