Analyst Edward Nash of Canaccord Genuity maintained a Buy rating on Rani Therapeutics Holdings (RANI – Research Report), retaining the price target of $9.00.
Edward Nash has given his Buy rating due to a combination of factors that highlight the potential of Rani Therapeutics Holdings. The company has recently announced promising preclinical data for its RT-114 program, which uses the RaniPill oral delivery system. This data shows a comparable weight loss effect to the subcutaneous injection of the same active drug, with reduced variability in results. The RT-114 program is on track to enter Phase I clinical studies by mid-2025, which is a positive indicator for future developments.
Additionally, the company has a solid financial position to support the upcoming trials, and the RT-114 offers several advantages over current treatments. These include a lower manufacturing cost and the ability to adjust dosages easily to reduce potential gastrointestinal side effects. The oral delivery system also provides a cleaner safety profile and quick dose titration, making it a competitive option in the market. These factors collectively contribute to Nash’s confidence in the company’s growth potential, justifying the Buy rating.
According to TipRanks, Nash is a 5-star analyst with an average return of 13.1% and a 42.64% success rate. Nash covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics, Rani Therapeutics Holdings, and Travere Therapeutics.
In another report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $8.00 price target.