Rani Therapeutics (NASDAQ:RANI) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Rani Therapeutics (NASDAQ:RANI) released its quarterly earnings data on Monday. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01, Zacks reports. Rani Therapeutics had a negative return on equity of 76.50% and a negative net margin of 493.00%. The company had revenue of $1.71 million during the quarter, compared to the consensus estimate of $1.28 million.

Rani Therapeutics Price Performance

Rani Therapeutics stock traded up $0.01 during mid-day trading on Wednesday, reaching $0.57. 188,809 shares of the stock traded hands, compared to its average volume of 884,926. The stock has a market capitalization of $79.04 million, a PE ratio of -2.98 and a beta of 0.61. Rani Therapeutics has a 12-month low of $0.51 and a 12-month high of $2.15. The business’s 50-day moving average is $0.73 and its 200-day moving average is $0.91.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RANI. HC Wainwright reaffirmed a “buy” rating on shares of Rani Therapeutics in a report on Tuesday, October 6th. Weiss Ratings raised shares of Rani Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 30th. Finally, Chardan Capital restated a “buy” rating on shares of Rani Therapeutics in a research report on Thursday, October 22nd. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.33.

Rani Therapeutics Company Profile

Rani Therapeutics Holdings, Inc. is a clinical-stage biotherapeutics company developing technology designed to deliver biologic medicines orally. Its proprietary RaniPill platform is an ingestible robotic capsule intended to transport biologic drugs through the stomach and release them into the small intestine, where they can be absorbed into the bloodstream. The approach is intended to address the limitations of many biologic therapies, which are commonly administered by injection or infusion. The company is advancing the RaniPill platform for potential use with a range of large-molecule medicines, including peptides, proteins and antibodies.