BTIG lowered the firm’s price target on Rani Therapeutics to $7 from $24 and keeps a Buy rating on the shares. The analyst cites the company’s pipeline reprioritization as the focus has now shifted to proving RaniPill platform capabilities through clinical readouts of RT-111 and RT-102 along with supporting partnerships in the near term. The firm adds that it is “conservatively removing” from its model the programs that do not have confirmed Phase 2 development plans at this time.
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