Maxim Group Initiates Coverage on Rani Therapeutics (NASDAQ:RANI)

Equities research analysts at Maxim Group assumed coverage on shares of Rani Therapeutics (NASDAQ:RANI) in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm set a “buy” rating and a $15.00 price target on the stock. Maxim Group’s price target would suggest a potential upside of 272.21% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. Canaccord Genuity Group cut their price target on Rani Therapeutics from $21.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. BTIG Research raised their price target on Rani Therapeutics from $7.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Rodman & Renshaw began coverage on shares of Rani Therapeutics in a research report on Thursday. They set a “buy” rating and a $10.00 price objective for the company. Finally, HC Wainwright raised their target price 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. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $12.29.

Rani Therapeutics Stock Down 1.2 %

Rani Therapeutics stock opened at $4.03 on Friday. The company’s 50-day moving average price is $5.57 and its two-hundred day moving average price is $4.10. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 1.43. The stock has a market cap of $203.19 million, a P/E ratio of -3.12 and a beta of 0.25. Rani Therapeutics has a twelve month low of $1.82 and a twelve month high of $8.75.

Rani Therapeutics (NASDAQ:RANI) last announced its earnings results on Monday, May 6th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). As a group, analysts expect that Rani Therapeutics will post -1.02 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Rani Therapeutics stock. Vanguard Group Inc. grew its position in shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 685,303 shares of the company’s stock after buying an additional 16,956 shares during the period. Vanguard Group Inc. owned 1.37% of Rani Therapeutics worth $2,131,000 at the end of the most recent reporting period. 30.19% of the stock is owned by institutional investors.

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.