Brokerages Set Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Target Price at $15.25

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANIGet Free Report) have earned an average rating of “Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have issued a report on the stock in the last year is $14.00.

A number of analysts have recently issued reports on the company. HC Wainwright decreased their target price on Rani Therapeutics from $16.00 to $12.00 and set a “buy” rating for the company in a report on Monday, March 25th. Wedbush reissued an “outperform” rating and set a $8.00 price target on shares of Rani Therapeutics in a research report on Tuesday, February 6th. Finally, Canaccord Genuity Group cut their target price on Rani Therapeutics from $21.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th.

View Our Latest Report on RANI

Rani Therapeutics Stock Up 0.3 %

Shares of NASDAQ:RANI opened at $3.14 on Wednesday. The stock’s 50-day moving average price is $3.46 and its two-hundred day moving average price is $2.87. The company has a current ratio of 6.36, a quick ratio of 6.36 and a debt-to-equity ratio of 0.96. Rani Therapeutics has a 12-month low of $1.82 and a 12-month high of $5.81. The firm has a market cap of $157.50 million, a price-to-earnings ratio of -2.36 and a beta of 0.92.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RANI. BlackRock Inc. grew its stake in shares of Rani Therapeutics by 37.7% in the first quarter. BlackRock Inc. now owns 157,374 shares of the company’s stock worth $2,125,000 after purchasing an additional 43,076 shares in the last quarter. Vanguard Group Inc. increased its position in Rani Therapeutics by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 290,107 shares of the company’s stock worth $3,916,000 after purchasing an additional 4,561 shares during the last quarter. State Street Corp increased its position in Rani Therapeutics by 32.7% in the 1st quarter. State Street Corp now owns 26,142 shares of the company’s stock worth $353,000 after purchasing an additional 6,442 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Rani Therapeutics during the 1st quarter valued at about $362,000. Finally, Millennium Management LLC increased its holdings in shares of Rani Therapeutics by 243.7% during the 2nd quarter. Millennium Management LLC now owns 111,781 shares of the company’s stock valued at $1,155,000 after acquiring an additional 79,256 shares during the last quarter. 30.19% of the stock is currently owned by institutional investors.

Rani Therapeutics Company Profile

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Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including large molecules, such as peptides, proteins, and antibodies.

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Analyst Recommendations for Rani Therapeutics (NASDAQ:RANI)

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