Grace Therapeutics (NASDAQ:GRCE) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Grace Therapeutics (NASDAQ:GRCE) from a hold rating to a sell rating in a report released on Saturday morning.

GRCE has been the topic of a number of other research reports. TD Cowen cut their target price on Grace Therapeutics from $12.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Craig Hallum set a $4.00 price target on Grace Therapeutics in a research note on Friday, April 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Grace Therapeutics in a report on Friday, July 17th. One 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 stock has a consensus rating of “Hold” and an average target price of $6.00.

Grace Therapeutics Trading Up 0.5%

Grace Therapeutics stock opened at $2.08 on Friday. The firm has a 50-day moving average price of $2.35 and a 200-day moving average price of $3.19. The firm has a market capitalization of $33.84 million, a PE ratio of -4.33 and a beta of 0.37. Grace Therapeutics has a 12-month low of $1.79 and a 12-month high of $5.18.

Grace Therapeutics (NASDAQ:GRCE) last issued its quarterly earnings results on Thursday, June 18th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.17. As a group, sell-side analysts predict that Grace Therapeutics will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of Grace Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. bought a new stake in shares of Grace Therapeutics in the 4th quarter valued at about $39,000. SeaCrest Wealth Management LLC purchased a new position in Grace Therapeutics during the third quarter valued at approximately $42,000. Kestra Private Wealth Services LLC bought a new position in Grace Therapeutics in the first quarter worth approximately $60,000. XTX Topco Ltd bought a new position in Grace Therapeutics in the fourth quarter worth approximately $106,000. Finally, Pale Fire Capital SE purchased a new stake in Grace Therapeutics during the first quarter worth $175,000. 6.08% of the stock is owned by hedge funds and other institutional investors.

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.