Rani Therapeutics (NASDAQ:RANI) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Rani Therapeutics (NASDAQ:RANI) issued its earnings results on Tuesday. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.03, Zacks reports.

Rani Therapeutics Price Performance

RANI traded down $0.07 on Wednesday, hitting $2.43. 16,043 shares of the stock were exchanged, compared to its average volume of 102,009. Rani Therapeutics has a 12 month low of $1.82 and a 12 month high of $8.75. The business has a 50-day moving average of $3.74 and a two-hundred day moving average of $4.20. The company has a debt-to-equity ratio of 1.43, a current ratio of 3.09 and a quick ratio of 3.09. The firm has a market capitalization of $122.52 million, a price-to-earnings ratio of -1.89 and a beta of 0.15.

Analysts Set New Price Targets

Several research analysts have recently issued reports on RANI shares. Rodman & Renshaw started coverage on shares of Rani Therapeutics in a research note on Thursday, June 13th. They issued a “buy” rating and a $10.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $13.00 price objective on shares of Rani Therapeutics in a research note on Tuesday, June 25th. BTIG Research lifted their price objective on shares of Rani Therapeutics from $7.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Oppenheimer assumed coverage on shares of Rani Therapeutics in a research note on Friday, August 2nd. They set an “outperform” rating and a $17.00 price objective on the stock. Finally, Maxim Group assumed coverage on shares of Rani Therapeutics in a research note on Friday, June 14th. They set a “buy” rating and a $15.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rani Therapeutics presently has a consensus rating of “Buy” and an average price target of $12.88.

About Rani Therapeutics

Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics for patients, physicians, and healthcare systems in the United States. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including oligonucleotides, peptides, proteins, and antibodies.