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.
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Edward Nash has given his Buy rating due to a combination of factors, including Rani Therapeutics Holdings’ strategic progress and promising developments in their pipeline. The company is on track to initiate a Phase I study for RT-114, a dual agonist targeting obesity, by mid-2025. This study is significant as it could potentially address a large market need, and the positive preclinical data reported for RT-114 supports the potential efficacy of the treatment.
Additionally, Rani’s collaboration with ProGen has yielded favorable results, as evidenced by the positive Phase I study outcomes for PG-102, which demonstrated a good tolerability profile and effective weight loss results. These developments, alongside the company’s financial performance and strategic direction, underpin Nash’s confidence in Rani’s future prospects and justify the Buy rating with a 12-month price target of $9.
Nash covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics, Rani Therapeutics Holdings, and Madrigal Pharmaceuticals. According to TipRanks, Nash has an average return of 12.5% and a 43.58% success rate on recommended stocks.