Grace Therapeutics (NASDAQ:GRCE) Stock Moved Down to Strong Sell by Wall Street Zen

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

Other equities research analysts have also issued research reports about the stock. Zacks Research upgraded shares of 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 Thursday, October 15th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.00.

Grace Therapeutics Price Performance

GRCE stock opened at $1.85 on Friday. Grace Therapeutics has a 1-year low of $1.67 and a 1-year high of $5.18. The firm has a fifty day moving average price of $2.04 and a two-hundred day moving average price of $2.79. The firm has a market cap of $38.92 million, a price-to-earnings ratio of -1.57 and a beta of 0.43.

Grace Therapeutics (NASDAQ:GRCE) last posted its quarterly earnings results 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 period in the prior year, the company posted ($0.21) EPS.

Institutional Investors Weigh In On Grace Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Grace Therapeutics during the 2nd quarter valued at $85,000. Pale Fire Capital SE acquired a new position in Grace Therapeutics in the first quarter worth approximately $175,000. Maven Securities LTD bought a new position in shares of Grace Therapeutics in the second quarter valued at $454,000. Renaissance Technologies LLC increased its holdings in shares of Grace Therapeutics by 87.9% in the first quarter. Renaissance Technologies LLC now owns 243,910 shares of the company’s stock valued at $1,129,000 after buying an additional 114,129 shares in the last quarter. Finally, Stonepine Capital Management LLC bought a new position in shares of Grace Therapeutics in the second quarter valued at $62,125,000. Institutional investors own 6.08% of the company’s stock.

About Grace Therapeutics

Grace Therapeutics, Inc (NASDAQ: GRCE) is a clinical-stage biopharmaceutical company developing therapies for rare and life-threatening medical conditions. The company focuses on drug-delivery technologies intended to improve the administration, absorption, and therapeutic performance of established pharmaceutical compounds.

Grace Therapeutics’ lead candidate is GTx-104, an investigational injectable formulation of nimodipine being developed for patients with aneurysmal subarachnoid hemorrhage, a serious form of bleeding around the brain.