Analysts Set Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Target Price at $11.71

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Get Free Report) has earned an average rating of "Buy" from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $11.71.

RANI has been the topic of a number of analyst reports. Oppenheimer initiated coverage on Rani Therapeutics in a research note on Friday, August 2nd. They issued an "outperform" rating and a $17.00 price target on the stock. HC Wainwright reissued a "buy" rating and issued a $9.00 price target on shares of Rani Therapeutics in a research note on Friday, October 18th.

Rani Therapeutics Price Performance

NASDAQ:RANI traded down $0.03 during mid-day trading on Thursday, reaching $2.29. 374,249 shares of the stock were exchanged, compared to its average volume of 548,094. The business has a fifty day moving average price of $2.50 and a 200 day moving average price of $3.76. The firm has a market capitalization of $122.30 million, a PE ratio of -1.94 and a beta of 0.12. Rani Therapeutics has a 1-year low of $1.82 and a 1-year high of $8.75. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 3.10.

Rani Therapeutics (NASDAQ:RANI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.26) earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $0.03. Research analysts expect that Rani Therapeutics will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Rani Therapeutics

In other Rani Therapeutics news, major shareholder South Cone Investments Limited sold 3,829,360 shares of Rani Therapeutics stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $2.65, for a total transaction of $10,147,804.00. Following the transaction, the insider now owns 8,302,194 shares of the company's stock, valued at $22,000,814.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 53.30% of the company's stock.

Hedge Funds Weigh In On Rani Therapeutics

A hedge fund recently bought a new stake in Rani Therapeutics stock. Marshall Wace LLP purchased a new stake in shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 21,247 shares of the company's stock, valued at approximately $81,000. Institutional investors 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.