Grace Therapeutics (NASDAQ:GRCE) Stock Rating Lowered by Wall Street Zen

Grace Therapeutics (NASDAQ:GRCE) was downgraded by research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grace Therapeutics in a report on Thursday, October 15th. Zacks Research upgraded shares of Grace Therapeutics to a “hold” rating in a research note on Monday, August 3rd. One 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.00.

Grace Therapeutics Stock Performance

Shares of GRCE opened at $1.85 on Friday. The company has a market cap of $38.92 million, a price-to-earnings ratio of -1.57 and a beta of 0.43. Grace Therapeutics has a 1-year low of $1.67 and a 1-year high of $5.18. The company’s fifty day simple moving average is $2.04 and its 200 day simple moving average is $2.79.

Grace Therapeutics (NASDAQ:GRCE) last announced 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 quarter in the previous year, the business posted ($0.21) EPS.

Hedge Funds Weigh In On Grace Therapeutics

Several large investors have recently modified their holdings of the stock. Eversept Partners LP bought a new stake in shares of Grace Therapeutics during the 1st quarter worth about $3,503,000. Bank of America Corp DE acquired a new position in Grace Therapeutics in the 2nd quarter valued at about $1,123,000. Stonepine Capital Management LLC acquired a new position in Grace Therapeutics in the 2nd quarter valued at about $62,125,000. Renaissance Technologies LLC raised its holdings in Grace Therapeutics by 87.9% in the 1st quarter. Renaissance Technologies LLC now owns 243,910 shares of the company’s stock valued at $1,129,000 after acquiring an additional 114,129 shares during the period. Finally, Maven Securities LTD bought a new position in Grace Therapeutics in the 2nd quarter valued at about $454,000. 6.08% of the stock is owned by institutional investors.

Grace Therapeutics Company Profile

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.