Grace Therapeutics (NASDAQ:GRCE) Stock Bumped Up to Sell by Wall Street Zen

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

Other analysts have also recently issued reports about the company. Zacks Research raised Grace Therapeutics to a “hold” rating in a research note on Monday, August 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grace Therapeutics in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Grace Therapeutics Stock Down 1.9%

Shares of GRCE opened at $2.12 on Friday. The stock has a market capitalization of $44.60 million, a P/E ratio of -1.80 and a beta of 0.44. The firm has a fifty day simple moving average of $2.17 and a two-hundred day simple moving average of $2.73. Grace Therapeutics has a twelve month low of $1.79 and a twelve month high of $5.18.

Grace Therapeutics (NASDAQ:GRCE) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.91) earnings per share (EPS) 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. Sell-side analysts expect that Grace Therapeutics will post -0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Grace Therapeutics

A number of large investors have recently modified their holdings of GRCE. Eversept Partners LP purchased a new stake in Grace Therapeutics in the first quarter worth about $3,503,000. Bank of America Corp DE bought a new position in shares of Grace Therapeutics in the 2nd quarter worth approximately $1,123,000. Stonepine Capital Management LLC purchased a new position in shares of Grace Therapeutics in the 2nd quarter valued at approximately $62,125,000. Renaissance Technologies LLC boosted its position in shares of Grace Therapeutics by 87.9% during the first quarter. Renaissance Technologies LLC now owns 243,910 shares of the company’s stock valued at $1,129,000 after purchasing an additional 114,129 shares in the last quarter. Finally, Maven Securities LTD bought a new stake in shares of Grace Therapeutics during the second quarter valued at approximately $454,000. Institutional investors own 6.08% of the company’s stock.

About Grace Therapeutics

Grace Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for rare and debilitating diseases with significant unmet medical needs. The company uses proprietary drug-delivery technologies to develop alternative formulations intended to improve the administration, tolerability, or effectiveness of existing pharmaceutical compounds.

Its pipeline has included GTX-102, an investigational formulation of betamethasone being developed for ataxia-telangiectasia, a rare inherited disorder, and GTX-104, an investigational intravenous formulation of nimodipine intended for patients at risk of complications following aneurysmal subarachnoid hemorrhage.