Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives Consensus Recommendation of “Buy” from Brokerages

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has received an average recommendation of “Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $12.33.

RANI has been the subject of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Rani Therapeutics in a research note on Friday, February 7th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $9.00 price target on shares of Rani Therapeutics in a research note on Wednesday, February 26th.

Rani Therapeutics Price Performance

RANI stock opened at $1.46 on Wednesday. The company has a fifty day moving average price of $1.49 and a 200-day moving average price of $1.96. The company has a market capitalization of $83.64 million, a P/E ratio of -1.38 and a beta of 0.14. Rani Therapeutics has a 52-week low of $1.24 and a 52-week high of $8.75. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.60 and a current ratio of 1.60.

Insider Transactions at Rani Therapeutics

In other news, insider Kate Mckinley acquired 17,960 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $1.67 per share, for a total transaction of $29,993.20. Following the completion of the transaction, the insider now directly owns 17,960 shares in the company, valued at $29,993.20. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 53.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rani Therapeutics

Several large investors have recently modified their holdings of RANI. Two Sigma Investments LP acquired a new stake in shares of Rani Therapeutics during the fourth quarter worth $399,000. Takeda Pharmaceutical Co. Ltd. acquired a new stake in Rani Therapeutics in the fourth quarter worth $278,000. Stifel Financial Corp grew its holdings in Rani Therapeutics by 100.4% in the third quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock worth $583,000 after purchasing an additional 135,148 shares during the period. Two Sigma Advisers LP acquired a new stake in Rani Therapeutics in the fourth quarter worth $151,000. Finally, Insigneo Advisory Services LLC acquired a new stake in Rani Therapeutics in the fourth quarter worth $65,000. 30.19% of the stock is currently owned by institutional investors and hedge funds.

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.