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

Rani Therapeutics (NASDAQ:RANI) announced its quarterly earnings data on Monday. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01, Zacks reports. Rani Therapeutics had a negative net margin of 493.00% and a negative return on equity of 76.50%. The business had revenue of $1.71 million for the quarter, compared to analysts’ expectations of $1.28 million.

Rani Therapeutics Price Performance

RANI stock traded up $0.01 during trading on Wednesday, reaching $0.57. 77,275 shares of the company were exchanged, compared to its average volume of 884,188. The company has a market capitalization of $78.90 million, a price-to-earnings ratio of -2.98 and a beta of 0.61. The company has a 50-day moving average of $0.73 and a two-hundred day moving average of $0.91. Rani Therapeutics has a twelve month low of $0.51 and a twelve month high of $2.15.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings upgraded Rani Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 30th. HC Wainwright reissued a “buy” rating on shares of Rani Therapeutics in a report on Tuesday, October 6th. Finally, Chardan Capital restated a “buy” rating on shares of Rani Therapeutics in a research report on Thursday, October 22nd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.