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

Rani Therapeutics (NASDAQ:RANI) released its quarterly earnings results on Friday. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03, FiscalAI reports. The firm had revenue of $1.71 million for the quarter, compared to analysts’ expectations of $1.13 million.

Rani Therapeutics Price Performance

Shares of RANI opened at $1.08 on Friday. The firm has a market capitalization of $133.59 million, a price-to-earnings ratio of -1.83 and a beta of 0.74. Rani Therapeutics has a 1-year low of $0.39 and a 1-year high of $3.87. The company has a 50-day moving average of $1.01 and a 200 day moving average of $1.34.

Analyst Ratings Changes

Several analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of Rani Therapeutics in a research note on Friday, March 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rani Therapeutics in a research note on Friday, March 27th. Lake Street Capital started coverage on Rani Therapeutics in a report on Tuesday, April 14th. They issued a “buy” rating and a $9.00 price target on the stock. Wall Street Zen lowered Rani Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Canaccord Genuity Group dropped their price objective on Rani Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Rani Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $8.75.

Hedge Funds Weigh In On Rani Therapeutics

Institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in shares of Rani Therapeutics during the fourth quarter valued at approximately $69,000. OMERS ADMINISTRATION Corp purchased a new position in Rani Therapeutics during the 4th quarter worth $93,000. Farallon Capital Management LLC purchased a new position in Rani Therapeutics during the 4th quarter worth $105,000. Bridgeway Capital Management LLC bought a new stake in Rani Therapeutics during the 4th quarter valued at $155,000. Finally, Millennium Management LLC bought a new stake in Rani Therapeutics during the 4th quarter valued at $220,000. 30.19% of the stock is owned by hedge funds and other institutional investors.

Rani Therapeutics Company Profile

Rani Therapeutics is a clinical-stage biopharmaceutical company developing oral delivery technologies for large-molecule drugs. The company’s proprietary RaniPill platform is designed to enable the gastrointestinal delivery of biologic therapies traditionally administered via injection. Through a swallowable capsule that autonomously deploys a microscopic injector in the small intestine, Rani aims to improve patient convenience and adherence for peptide and protein therapies, including insulin and other hormones.

Since its founding in 2012, Rani Therapeutics has advanced its lead programs through early-phase clinical trials, demonstrating proof-of-concept for oral insulin delivery.