Rani Therapeutics price target lowered to $12 from $16 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Rani Therapeutics to $12 from $16 and keeps a Buy rating on the shares. The analyst says the RT-111 data further support RaniPill’s platform clinical profile. The RT-111 formulation could also reach target efficacy levels faster than the original Stelara formulation, the analyst tells investors in a research note. The firm believes even equivalent efficacy would likely lead patients to strongly prefer an oral agent versus a subcutaneous injection.