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

Rani Therapeutics (NASDAQ:RANI) posted its quarterly earnings results on Monday. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03), Zacks reports. The business had revenue of $1.03 million for the quarter.

Rani Therapeutics Trading Down 7.4 %

Shares of Rani Therapeutics stock opened at $1.26 on Tuesday. Rani Therapeutics has a 12-month low of $1.24 and a 12-month high of $8.75. The stock has a market capitalization of $72.18 million, a P/E ratio of -1.19 and a beta of 0.14. The company has a 50-day simple moving average of $1.51 and a 200 day simple moving average of $1.83. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 2.34.

Analysts Set New Price Targets

A number of research firms have recently commented on RANI. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Rani Therapeutics in a report on Friday, February 7th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $9.00 price objective on shares of Rani Therapeutics in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Rani Therapeutics presently has an average rating of “Buy” and an average target price of $12.33.

Rani Therapeutics Company Profile

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.