H.C. Wainwright Initiates Rani Therapeutics (RANI) with Buy and $11 PT on RaniPill Potential

Rani Therapeutics Holdings Inc. (NASDAQ:RANI) is one of the hot stocks to buy with huge upside potential. On October 21, H.C. Wainwright analyst Brandon Folkes assumed coverage of Rani Therapeutics with a Buy rating and $11 price target. The firm believes that the company has 3 major value drivers: the platform technology RaniPill, a recent collaboration agreement with Chugai Pharmaceutical for a hemophilia product, and an additional five drug targets, as well as RT-114, which is an oral GLP-1/GLP-2 dual agonist candidate.

H.C. Wainwright Initiates Rani Therapeutics (RANI) with Buy and $11 PT on RaniPill Potential

H.C. Wainwright expects data readouts on RT-114 to be the biggest driver of near-term value creation for the company’s shares. A day prior, on October 20, Maxim raised the firm’s price target on Rani Therapeutics to $10 from $5 with a Buy rating on the shares after the company announced the licensing deal with Chugai Pharmaceutical and a concurrent private placement to raise $60 million in proceeds.

Rani Therapeutics Holdings Inc. (NASDAQ:RANI) is a clinical-stage biotherapeutics company that focuses on technologies to enable the administration of biologics and drugs orally for patients, physicians, and healthcare systems with an alternative to painful injections in the US.

While we acknowledge the potential of RANI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RANI and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.