Grace Therapeutics (NASDAQ:GRCE) Posts Earnings Results, Beats Expectations By $0.17 EPS

Grace Therapeutics (NASDAQ:GRCE) announced its earnings results on Thursday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.17, Zacks reports.

Grace Therapeutics Stock Performance

NASDAQ:GRCE opened at $2.38 on Friday. The stock has a market capitalization of $36.82 million, a PE ratio of -4.96 and a beta of 0.37. Grace Therapeutics has a fifty-two week low of $1.79 and a fifty-two week high of $5.18. The company has a fifty day moving average of $2.68 and a two-hundred day moving average of $3.41.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. ADAR1 Capital Management LLC boosted its holdings in Grace Therapeutics by 83.2% in the 4th quarter. ADAR1 Capital Management LLC now owns 641,988 shares of the company’s stock worth $2,221,000 after buying an additional 291,538 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of Grace Therapeutics in the fourth quarter valued at approximately $1,463,000. Renaissance Technologies LLC lifted its position in shares of Grace Therapeutics by 53.5% in the fourth quarter. Renaissance Technologies LLC now owns 129,781 shares of the company’s stock valued at $449,000 after acquiring an additional 45,220 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Grace Therapeutics in the fourth quarter worth approximately $106,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Grace Therapeutics in the third quarter worth approximately $42,000. Institutional investors and hedge funds own 6.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Grace Therapeutics in a research report on Tuesday, April 21st. Wall Street Zen cut Grace Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. TD Cowen dropped their price objective on shares of Grace Therapeutics from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Finally, Craig Hallum set a $4.00 price target on shares of Grace Therapeutics in a report on Friday, April 24th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.00.

About Grace Therapeutics

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.