In a report released yesterday, Julian Harrison from BTIG maintained a Buy rating on Rani Therapeutics Holdings (RANI – Research Report), with a price target of $14.00.
Julian Harrison has given his Buy rating due to a combination of factors that highlight the promising potential of Rani Therapeutics Holdings. The Phase 1 data for PG-102, a GLP1/2 agonist, demonstrated significant weight loss in patients with obesity and type 2 diabetes, outperforming existing therapies like semaglutide and tirzepatide. The rapid titration and favorable tolerability profile, with minimal side effects, suggest that Rani’s RT-114 could offer a more effective and patient-friendly treatment option.
Furthermore, the potential for RT-114 to provide anti-inflammatory benefits alongside weight loss, coupled with its convenient oral administration, positions it as a differentiated and competitive product in the market. The anticipated IND submission and further data expected in the first half of 2025 reinforce confidence in the company’s development trajectory. Harrison’s analysis underscores the opportunity for RT-114 to capture a significant share of the market, given the current limitations of first-generation therapies and the substantial sales figures of existing products.
In another report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $9.00 price target.