Grace Therapeutics (NASDAQ:GRCE) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Grace Therapeutics (NASDAQ:GRCE) to a hold rating in a research note issued to investors on Friday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Grace Therapeutics in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Grace Therapeutics has an average rating of “Hold” and an average target price of $12.00.

Grace Therapeutics Trading Up 0.5%

Shares of NASDAQ GRCE opened at $3.82 on Friday. Grace Therapeutics has a 12-month low of $1.75 and a 12-month high of $3.99. The firm has a market capitalization of $59.10 million, a price-to-earnings ratio of -6.16 and a beta of 0.55. The firm has a 50 day moving average of $3.41 and a 200 day moving average of $3.22.

Grace Therapeutics (NASDAQ:GRCE) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.03). Sell-side analysts predict that Grace Therapeutics will post -1.06 EPS for the current year.

Hedge Funds Weigh In On Grace Therapeutics

Several large investors have recently made changes to their positions in GRCE. Stratos Wealth Partners LTD. bought a new position in shares of Grace Therapeutics in the fourth quarter worth about $39,000. SeaCrest Wealth Management LLC bought a new position in Grace Therapeutics in the 3rd quarter worth approximately $42,000. Millington Financial Advisors LLC purchased a new stake in Grace Therapeutics during the 2nd quarter valued at approximately $59,000. Palumbo Wealth Management LLC bought a new stake in shares of Grace Therapeutics during the second quarter valued at approximately $144,000. Finally, ADAR1 Capital Management LLC lifted its holdings in shares of 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. 6.08% of the stock is currently owned by hedge funds and other institutional investors.

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.