Rani Therapeutics (NASDAQ:RANI) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Rani Therapeutics (NASDAQ:RANI) released its quarterly earnings results on Friday. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02, FiscalAI reports. The company had revenue of $1.71 million for the quarter, compared to analysts’ expectations of $1.13 million.

Rani Therapeutics Stock Down 2.7%

Shares of RANI stock opened at $1.08 on Friday. Rani Therapeutics has a fifty-two week low of $0.39 and a fifty-two week high of $3.87. The stock has a market cap of $133.59 million, a P/E ratio of -2.63 and a beta of 0.74. The business has a fifty day simple moving average of $1.01 and a 200-day simple moving average of $1.34.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of Rani Therapeutics in the fourth quarter valued at $69,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Rani Therapeutics in the fourth quarter valued at $93,000. Farallon Capital Management LLC purchased a new position in shares of Rani Therapeutics in the fourth quarter valued at $105,000. Kestra Private Wealth Services LLC increased its position in shares of Rani Therapeutics by 44.8% in the third quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock valued at $113,000 after buying an additional 70,002 shares in the last quarter. Finally, Bridgeway Capital Management LLC purchased a new position in shares of Rani Therapeutics in the fourth quarter valued at $155,000. Hedge funds and other institutional investors own 30.19% of the company’s stock.

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.