BTIG analyst Julian Harrison has maintained their bullish stance on RANI stock, giving a Buy rating yesterday.
Julian Harrison’s Buy rating for Rani Therapeutics Holdings is primarily based on the potential success of the company’s RT-102 osteoporosis treatment and the company’s promising financial position. The progress made in the RT-111 Phase 1 and the RT-102 Phase 2 trials, along with the successful completion of a critical 60-day repeat administration animal study, are seen as indicators of the company’s ability to deliver on its product pipeline. In addition, Harrison notes that the company’s RaniPill platform capabilities are being validated through these clinical readouts, further justifying the Buy rating.
Rani Therapeutics’ solid financial position, with funds sufficient to sustain operations into 2025, adds another layer of confidence. Furthermore, the RT-102 osteoporosis treatment has shown a promising pharmacokinetic (PK) profile, which leads Harrison to believe that it could become a preferred treatment option in the market. The PK profile of RT-102 was found to be superior to Forteo and similar to Tymlos, two existing osteoporosis treatments. Coupled with the ease of oral administration, RT-102 has a reasonable chance of becoming a leading option. Finally, the expected initiation of the Phase 2 trial for RT-102 and the potential for measurable results within four weeks are seen as positive indicators for the future success of the drug.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $16.00 price target.
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Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RANI in relation to earlier this year.
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Rani Therapeutics Holdings (RANI) Company Description:
Rani Therapeutics Holdings Inc is a clinical stage biotherapeutics company advancing technologies to enable the development of orally administered biologics. It has developed the RaniPill capsule, proprietary and patented platform technology, intended to replace subcutaneous or IV injection of biologics with oral dosing.
Read More on RANI:
- Rani Therapeutics announces development of RT-101 cancelled, 25% workforce cut
- Rani Therapeutics sees Q3 net loss $17M -$19M
- Rani Therapeutics Reports Third Quarter 2023 Financial Results; Provides Corporate Update
- Rani Therapeutics sees Q3 net loss $17M-$19M vs $16.2M last year
- Rani Therapeutics announces preclinical data on RaniPill platform
