Analyst Edward Nash of Canaccord Genuity maintained a Buy rating on Rani Therapeutics Holdings (RANI – Research Report), retaining the price target of $9.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Edward Nash has given his Buy rating due to a combination of factors, including a promising research agreement with Chugai Pharmaceutical Co. The collaboration involves Chugai exploring Rani’s RaniPill delivery technology, which has shown comparable bioavailability to the subcutaneous route for two undisclosed molecules. This partnership with a major pharmaceutical company like Chugai highlights the potential and credibility of Rani’s technology.
Furthermore, Rani’s financial position has been strengthened by a recent agreement with an existing investor, resulting in $4.3 million in gross proceeds from warrant exercises. This financial boost, coupled with the strategic partnership, positions Rani Therapeutics Holdings well for future growth and innovation, justifying the Buy rating from Edward Nash.
In another report released on May 16, Maxim Group also maintained a Buy rating on the stock with a $5.00 price target.
RANI’s price has also changed dramatically for the past six months – from $2.050 to $0.749, which is a -63.46% drop .