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

Rani Therapeutics (NASDAQ:RANI) released its earnings results on Monday. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01, Zacks reports.

Rani Therapeutics Price Performance

Rani Therapeutics stock traded up $0.03 during mid-day trading on Monday, hitting $0.57. 361,050 shares of the company’s stock traded hands, compared to its average volume of 889,765. The firm has a 50 day simple moving average of $0.74 and a two-hundred day simple moving average of $0.92. Rani Therapeutics has a fifty-two week low of $0.51 and a fifty-two week high of $2.15. The stock has a market cap of $80.05 million, a price-to-earnings ratio of -2.13 and a beta of 0.61.

Analysts Set New Price Targets

Several research firms have weighed in on RANI. Weiss Ratings raised Rani Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 30th. Chardan Capital restated a “buy” rating on shares of Rani Therapeutics in a report on Thursday, October 22nd. Finally, HC Wainwright reiterated a “buy” rating on shares of Rani Therapeutics in a research note on Tuesday, October 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Rani Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $8.33.

About Rani Therapeutics

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.