Rani Therapeutics Holdings (RANI) Gets a Buy from Wedbush

Wedbush analyst Andreas Argyrides reiterated a Buy rating on Rani Therapeutics Holdings (RANIResearch Report) today and set a price target of $20.00. The company’s shares closed yesterday at $7.55.

According to TipRanks, Argyrides is an analyst with an average return of -11.7% and a 43.10% success rate. Argyrides covers the Healthcare sector, focusing on stocks such as Ascendis Pharma, BioMarin Pharmaceutical, and Albireo Pharma.

Currently, the analyst consensus on Rani Therapeutics Holdings is a Strong Buy with an average price target of $20.25, representing a 168.21% upside. In a report released on November 28, BTIG also maintained a Buy rating on the stock with a $24.00 price target.

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Based on Rani Therapeutics Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $7.96 million. In comparison, last year the company had a GAAP net loss of $3.14 million

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RANI in relation to earlier this year.

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Rani Therapeutics Holdings Inc is a clinical stage biotherapeutics company advancing technologies to enable the development of orally administered biologics. It has developed the RaniPill capsule, proprietary and patented platform technology, intended to replace subcutaneous or IV injection of biologics with oral dosing.

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