Rani Therapeutics (NASDAQ:RANI) Releases Earnings Results

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

Rani Therapeutics Trading Down 0.4 %

Shares of RANI traded down $0.01 during midday trading on Thursday, hitting $2.42. The stock had a trading volume of 23,044 shares, compared to its average volume of 101,489. Rani Therapeutics has a fifty-two week low of $1.82 and a fifty-two week high of $8.75. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 1.43. The firm has a market cap of $122.02 million, a P/E ratio of -1.88 and a beta of 0.15. The business has a 50-day simple moving average of $3.69 and a two-hundred day simple moving average of $4.19.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Rodman & Renshaw assumed coverage on Rani Therapeutics in a report on Thursday, June 13th. They issued a “buy” rating and a $10.00 price target on the stock. Maxim Group began coverage on Rani Therapeutics in a research report on Friday, June 14th. They issued a “buy” rating and a $15.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Rani Therapeutics in a research report on Tuesday, June 25th. BTIG Research raised their price target on shares of Rani Therapeutics from $7.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, Oppenheimer began coverage on Rani Therapeutics in a research note on Friday, August 2nd. They set an “outperform” rating and a $17.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $12.88.

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.