What is Zacks Small Cap’s Forecast for RANI FY2024 Earnings?

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) – Zacks Small Cap raised their FY2024 earnings per share estimates for shares of Rani Therapeutics in a note issued to investors on Wednesday, November 20th. Zacks Small Cap analyst J. Vandermosten now forecasts that the company will earn ($1.06) per share for the year, up from their previous estimate of ($1.10). The consensus estimate for Rani Therapeutics’ current full-year earnings is ($0.99) per share.

RANI has been the subject of a number of other reports. Oppenheimer initiated coverage on shares of Rani Therapeutics in a research note on Friday, August 2nd. They set an “outperform” rating and a $17.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Rani Therapeutics in a research note on Tuesday, November 19th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $11.71.

Rani Therapeutics Trading Down 6.3 %

RANI stock opened at $1.95 on Monday. Rani Therapeutics has a twelve month low of $1.90 and a twelve month high of $8.75. The stock has a market capitalization of $111.72 million, a price-to-earnings ratio of -1.84 and a beta of 0.11. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 2.34. The firm’s fifty day simple moving average is $2.33 and its two-hundred day simple moving average is $3.18.

Insider Buying and Selling at Rani Therapeutics

In related news, major shareholder South Cone Investments Limited sold 3,829,360 shares of Rani Therapeutics stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $2.65, for a total value of $10,147,804.00. Following the completion of the sale, the insider now directly owns 8,302,194 shares in the company, valued at $22,000,814.10. The trade was a 31.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 53.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RANI. Vanguard Group Inc. boosted its stake in shares of Rani Therapeutics by 2.5% during the first quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock valued at $2,131,000 after purchasing an additional 16,956 shares in the last quarter. Marshall Wace LLP purchased a new stake in Rani Therapeutics during the second quarter worth $81,000. Geode Capital Management LLC lifted its holdings in Rani Therapeutics by 14.3% during the third quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock worth $372,000 after buying an additional 21,527 shares during the period. King Luther Capital Management Corp boosted its position in Rani Therapeutics by 44.5% during the 3rd quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock valued at $175,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Rani Therapeutics by 100.4% in the 3rd quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock valued at $583,000 after acquiring an additional 135,148 shares during the period. Hedge funds and other institutional investors own 30.19% of the company’s stock.

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.