Grace Therapeutics (NASDAQ:GRCE) Releases Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Grace Therapeutics (NASDAQ:GRCE) issued its quarterly earnings data on Thursday. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.18, FiscalAI reports.

Grace Therapeutics Price Performance

Shares of GRCE opened at $2.22 on Thursday. The firm has a market cap of $34.34 million, a P/E ratio of -5.55 and a beta of 0.37. The stock has a 50 day simple moving average of $2.73 and a two-hundred day simple moving average of $3.42. Grace Therapeutics has a 1 year low of $1.79 and a 1 year high of $5.18.

Institutional Trading of Grace Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SeaCrest Wealth Management LLC purchased a new stake in Grace Therapeutics in the third quarter worth approximately $42,000. XTX Topco Ltd purchased a new stake in Grace Therapeutics in the fourth quarter worth approximately $106,000. Renaissance Technologies LLC boosted its stake in Grace Therapeutics by 53.5% in the fourth quarter. Renaissance Technologies LLC now owns 129,781 shares of the company’s stock worth $449,000 after buying an additional 45,220 shares in the last quarter. ADAR1 Capital Management LLC boosted its stake in Grace Therapeutics by 98.4% in the third quarter. ADAR1 Capital Management LLC now owns 350,450 shares of the company’s stock worth $1,043,000 after buying an additional 173,823 shares in the last quarter. Finally, Cerity Partners LLC purchased a new stake in Grace Therapeutics in the fourth quarter worth approximately $1,463,000. Hedge funds and other institutional investors own 6.08% of the company’s stock.

Wall Street Analysts Forecast Growth

GRCE has been the subject of several recent analyst reports. TD Cowen cut their price objective on Grace Therapeutics from $12.00 to $8.00 and set a “buy” rating for the company in a report on Friday, April 24th. Craig Hallum set a $4.00 price objective on Grace Therapeutics in a report on Friday, April 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Grace Therapeutics in a report on Tuesday, April 21st. Finally, Wall Street Zen lowered Grace Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Grace Therapeutics Company Profile

Grace Therapeutics, Inc (NASDAQ: GRCE) is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for rare genetic diseases. By employing a proprietary platform that integrates advanced molecular biology and biologic engineering, the company focuses on identifying and optimizing gene-based and protein-based candidates designed to address well-defined genetic drivers of disease.

The company’s pipeline features multiple preclinical programs targeting lysosomal storage disorders and other inherited metabolic conditions.