Grace Therapeutics (NASDAQ:GRCE) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Grace Therapeutics (NASDAQ:GRCE) from a sell rating to a strong sell rating in a report published on Saturday.

GRCE has been the topic of a number of other research reports. Zacks Research raised shares of Grace Therapeutics to a “hold” rating in a report on Monday, August 3rd. TD Cowen reduced 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 target price on Grace Therapeutics in a research report on Friday, April 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Grace Therapeutics in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Grace Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Grace Therapeutics Stock Performance

NASDAQ GRCE opened at $2.16 on Friday. The company has a market capitalization of $45.45 million, a PE ratio of -1.83 and a beta of 0.39. Grace Therapeutics has a 52-week low of $1.79 and a 52-week high of $5.18. The company has a 50-day simple moving average of $2.29 and a 200 day simple moving average of $3.06.

Grace Therapeutics (NASDAQ:GRCE) last released its earnings results on Thursday, August 13th. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.78). During the same quarter in the previous year, the firm posted ($0.21) EPS. As a group, analysts forecast that Grace Therapeutics will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Grace Therapeutics

Several large investors have recently modified their holdings of GRCE. Kestra Private Wealth Services LLC bought a new stake in shares of Grace Therapeutics in the first quarter valued at approximately $60,000. SeaCrest Wealth Management LLC bought a new position in shares of Grace Therapeutics in the third quarter worth $42,000. XTX Topco Ltd bought a new position in shares of Grace Therapeutics in the fourth quarter worth $106,000. BlackRock Inc. purchased a new position in shares of Grace Therapeutics in the second quarter valued at $85,000. Finally, Pale Fire Capital SE purchased a new position in shares of Grace Therapeutics in the first quarter valued at $175,000. Hedge funds and other institutional investors own 6.08% of the company’s stock.

About Grace Therapeutics

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.