Grace Therapeutics (NASDAQ:GRCE) Downgraded by Wall Street Zen to Strong Sell

Wall Street Zen lowered shares of Grace Therapeutics (NASDAQ:GRCE) from a sell rating to a strong sell rating in a research note published on Sunday,Wall Street Zen reports.

Several other research analysts also recently commented on GRCE. Zacks Research upgraded Grace Therapeutics to a “hold” rating in a research note on Monday, August 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Grace Therapeutics in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Grace Therapeutics Stock Performance

Shares of NASDAQ:GRCE opened at $2.07 on Friday. Grace Therapeutics has a 52-week low of $1.79 and a 52-week high of $5.18. The company has a market capitalization of $43.55 million, a P/E ratio of -1.75 and a beta of 0.33. The company has a 50-day simple moving average of $2.14 and a 200 day simple moving average of $2.65.

Grace Therapeutics (NASDAQ:GRCE) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.78). During the same period last year, the company posted ($0.21) earnings per share. As a group, equities analysts forecast that Grace Therapeutics will post -0.8 earnings per share for the current year.

Institutional Investors Weigh In On Grace Therapeutics

Several hedge funds have recently bought and sold shares of GRCE. Stonepine Capital Management LLC bought a new stake in Grace Therapeutics in the 2nd quarter valued at $62,125,000. Bank of America Corp DE bought a new position in Grace Therapeutics during the 2nd quarter worth $1,123,000. Eversept Partners LP bought a new position in Grace Therapeutics during the 1st quarter worth $3,503,000. Maven Securities LTD acquired a new stake in shares of Grace Therapeutics during the second quarter worth $454,000. Finally, BlackRock Inc. acquired a new stake in shares of Grace Therapeutics during the second quarter worth $85,000. 6.08% of the stock is currently owned by institutional investors and hedge funds.

Grace Therapeutics Company Profile

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.