Rani Therapeutics price target raised to $14 from $7 at BTIG

BTIG analyst Julian Harrison raised the firm’s price target on Rani Therapeutics (RANI) to $14 from $7 and keeps a Buy rating on the shares after hosting a non-deal roadshow with the company. Obesity is emerging as new area of focus, and Rani’s recent improvements to platform capabilities remain underappreciated, the analyst tells investors in a research note. Eli Lilly’s (LLY) $2.4B acquisition of Dice Therapeutics and JNJ‘s (JNJ) collaboration with Protagonist Therapeutics (PTGX) are appropriate comps and support further upside vs. where RANI currently trades, the firm added.