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

Grace Therapeutics (NASDAQ:GRCE) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research firms have also issued reports on GRCE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grace Therapeutics in a report on Tuesday, April 21st. TD Cowen reduced their price objective on shares of Grace Therapeutics from $12.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Finally, Craig Hallum set a $4.00 target price on shares of Grace Therapeutics in a report on Friday, April 24th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Grace Therapeutics Price Performance

GRCE opened at $2.38 on Friday. The business has a 50 day moving average price of $2.52 and a two-hundred day moving average price of $3.38. The company has a market capitalization of $38.64 million, a price-to-earnings ratio of -4.95 and a beta of 0.37. Grace Therapeutics has a 1-year low of $1.79 and a 1-year high of $5.18.

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

Hedge Funds Weigh In On Grace Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Stratos Wealth Partners LTD. acquired a new stake in Grace Therapeutics during the 4th quarter worth about $39,000. Kestra Private Wealth Services LLC purchased a new position in shares of Grace Therapeutics in the first quarter worth approximately $60,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Grace Therapeutics during the third quarter valued at approximately $42,000. XTX Topco Ltd acquired a new stake in shares of Grace Therapeutics during the fourth quarter valued at approximately $106,000. Finally, Pale Fire Capital SE purchased a new stake in shares of Grace Therapeutics in the 1st quarter valued at approximately $175,000. Institutional investors and hedge funds own 6.08% of the company’s stock.

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.