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

Rani Therapeutics (NASDAQ:RANI) released its quarterly earnings results on Monday. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01, Zacks reports. The business had revenue of $1.71 million for the quarter, compared to the consensus estimate of $1.28 million.

Rani Therapeutics Trading Up 5.0%

NASDAQ RANI traded up $0.03 during midday trading on Monday, hitting $0.57. The company had a trading volume of 361,061 shares, compared to its average volume of 889,765. The company has a market capitalization of $80.05 million, a PE ratio of -2.13 and a beta of 0.61. The firm has a 50-day moving average price of $0.74 and a 200-day moving average price of $0.92. Rani Therapeutics has a twelve month low of $0.51 and a twelve month high of $2.15.

Wall Street Analysts Forecast Growth

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