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.
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Read More on RANI:
- Rani Therapeutics price target raised to $13 from $12 at H.C. Wainwright
- Rani Therapeutics reports Q1 EPS (29c), consensus (20c)
- Rani Therapeutics Reports First Quarter 2024 Financial Results; Provides Corporate Update
- Rani Therapeutics management to meet virtually with BTIG
- Rani Therapeutics price target lowered to $9 from $21 at Canaccord
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