Maxim raised the firm’s price target on Rani Therapeutics (RANI) to $10 from $5 and keeps a Buy rating on the shares after the company announced a licensing deal with Chugai Pharmaceutical for RaniPill technology and a concurrent private placement to raise $60M in proceeds. The Chugai deal offers both non-dilutive financing as well as “key validation” for RaniPill, the analyst tells investors.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RANI: