Grace Therapeutics (NASDAQ:GRCE) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Grace Therapeutics (NASDAQ:GRCE) from a sell rating to a strong sell rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the company. Zacks Research upgraded Grace Therapeutics to a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Grace Therapeutics in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.00.

Grace Therapeutics Stock Performance

GRCE opened at $2.07 on Friday. The stock has a market capitalization of $43.55 million, a price-to-earnings ratio of -1.75 and a beta of 0.33. The company has a fifty day moving average of $2.13 and a 200 day moving average of $2.62. Grace Therapeutics has a fifty-two week low of $1.79 and a fifty-two week high of $5.18.

Grace Therapeutics (NASDAQ:GRCE) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.78). During the same period last year, the firm posted ($0.21) EPS. On average, equities research analysts forecast that Grace Therapeutics will post -0.8 earnings per share for the current year.

Institutional Trading of Grace Therapeutics

A number of large investors have recently made changes to their positions in the business. Kestra Private Wealth Services LLC purchased a new stake in shares of Grace Therapeutics during the 1st quarter valued at about $60,000. BlackRock Inc. purchased a new position in Grace Therapeutics in the second quarter worth about $85,000. Pale Fire Capital SE bought a new stake in Grace Therapeutics during the first quarter worth approximately $175,000. Maven Securities LTD bought a new stake in Grace Therapeutics during the second quarter worth approximately $454,000. Finally, Renaissance Technologies LLC raised its position in Grace Therapeutics by 87.9% during the first quarter. Renaissance Technologies LLC now owns 243,910 shares of the company’s stock valued at $1,129,000 after purchasing an additional 114,129 shares during the period. 6.08% of the stock is currently owned by institutional investors.

Grace Therapeutics Company Profile

Grace Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for rare and serious medical conditions. The company uses proprietary drug-delivery technologies to develop pharmaceutical formulations intended to improve the administration, absorption, and clinical utility of existing or emerging therapies.

Its development pipeline has included GTX-104, an investigational formulation of nimodipine being developed for patients with aneurysmal subarachnoid hemorrhage, a life-threatening type of bleeding in the brain.