Analyst Edward Nash from Canaccord Genuity maintained a Buy rating on Rani Therapeutics Holdings (RANI – Research Report) and keeping the price target at $9.00.
Edward Nash has given his Buy rating due to a combination of factors including the promising results from Rani Therapeutics Holdings’ recent clinical trials. The company’s partner, ProGen, reported positive outcomes from a Phase I study of their GLP-1/GLP-2 dual agonist, PG-102, which is delivered using the RaniPill. This study demonstrated significant weight loss and favorable tolerability, with an average weight reduction of 4.8% at Week 5 and a maximum individual reduction of 8.7%.
These results are particularly compelling when compared to historical data from other weight loss drugs, such as semaglutide and tirzepatide, which showed slower titration and less weight loss at similar early stages. The accelerated dose-escalation regimen of PG-102 allowed participants to reach the target dose more quickly, potentially contributing to the more pronounced weight loss effect. These factors suggest a strong potential for Rani Therapeutics Holdings’ product in the competitive weight loss market, supporting Nash’s Buy recommendation.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $14.00 price target.