Rani Therapeutics stock hits 52-week low at $1.85

Rani Therapeutics Holdings, Inc. (RANI) stock has reached a 52-week low, trading at $1.85, marking a significant downturn for the company within the past year. With a market capitalization of $107 million, InvestingPro data reveals the stock has declined over 52% in the past six months, while analysts maintain a Strong Buy rating with price targets ranging from $8 to $17. This latest price point reflects a steep decline of 45.77% from the stock's value one year ago. Investors are closely monitoring Rani Therapeutics as it navigates through a challenging period, with InvestingPro analysis indicating the company's overall financial health score as WEAK. The 52-week low serves as a critical indicator for potential investors, who may be considering the stock's current valuation in light of its recent performance and long-term prospects. According to InvestingPro's Fair Value analysis, the stock appears slightly undervalued at current levels. Subscribers can access 8 additional ProTips and comprehensive financial metrics to make more informed investment decisions.

In other recent news, Rani Therapeutics has made significant strides in its operations. The biopharmaceutical company has reported encouraging preclinical pharmacokinetic data for its obesity treatment candidate, showing potential for an oral alternative to injections for certain treatments. The company's research is centered around its proprietary RaniPill system, which is being used in the development of RT-114, a capsule containing a dual-agonist for GLP-1 and GLP-2, named PG-102.

Rani Therapeutics has also secured approximately $10 million through a registered direct offering, which will support the continued development of its RaniPill capsule technology. Additionally, the company has entered into a collaboration with South Korean biotech firm, ProGen Co., Ltd., to co-develop and commercialize RT-114.

Financially, Rani Therapeutics reported a Q2 net loss of $0.51 per share, consistent with expectations. H.C. Wainwright has maintained a Buy rating for the company, with a revised price target of $9.00. Analysts from Stifel and Canaccord Genuity have also maintained their Buy ratings, despite adjustments in their price targets.

Lastly, Rani Therapeutics has appointed Marcum LLP as its new independent registered public accounting firm, replacing Ernst & Young LLP. These are among the recent developments that are shaping the course of Rani Therapeutics.

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