Rani Therapeutics (NASDAQ:RANI) Upgraded by Zacks Investment Research to “Buy”

Rani Therapeutics (NASDAQ:RANI – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Zacks.com reports. The firm presently has a $13.00 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.15% from the stock’s current price.

According to Zacks, “Rani Therapeutics Holdings Inc. is a clinical stage biotherapeutics company. It focused on advancing technologies to enable the development of orally administered biologics. Rani Therapeutics Holdings Inc. is based in SAN JOSE, Calif. “

Shares of RANI opened at $11.29 on Thursday. The firm has a market cap of $555.02 million and a P/E ratio of -13.44. The stock has a 50 day simple moving average of $12.29 and a two-hundred day simple moving average of $16.84. Rani Therapeutics has a 1 year low of $9.24 and a 1 year high of $36.27.

Rani Therapeutics (NASDAQ:RANI – Get Rating) last released its quarterly earnings data on Tuesday, March 29th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.28) by $1.01. As a group, equities research analysts anticipate that Rani Therapeutics will post -2.35 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. UBS Group AG bought a new position in Rani Therapeutics in the third quarter worth $55,000. JPMorgan Chase & Co. bought a new stake in Rani Therapeutics in the 4th quarter worth about $68,000. Bank of America Corp DE increased its holdings in Rani Therapeutics by 201.4% in the 4th quarter. Bank of America Corp DE now owns 4,422 shares of the company’s stock worth $73,000 after buying an additional 2,955 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in Rani Therapeutics in the 4th quarter worth about $344,000. Finally, State Street Corp boosted its position in Rani Therapeutics by 32.7% in the first 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. 2.31% of the stock is owned by institutional investors.

About Rani Therapeutics (Get Rating)

Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics. The company develops the RaniPill capsule, a platform that is intended to replace subcutaneous or IV injection of biologics with oral dosing. Its product pipeline includes RT-101, an octreotide, which has completed Phase I clinical trial for the treatment of neuroendocrine tumors and acromegaly; RT-105, an anti-TNF-alpha antibody to treat psoriatic arthritis; RT-102, a parathyroid hormone that is in preclinical studies for the treatment of osteoporosis; RT-109, a human growth hormone to treat growth hormone deficiency; RT-110, a parathyroid hormone for the treatment of hypoparathyroidism; and RT-106, a basal insulin for the treatment of type 2 diabetes.

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