Grace Therapeutics (NASDAQ:GRCE) Upgraded at Wall Street Zen

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

GRCE has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grace Therapeutics in a report on Friday, July 17th. Zacks Research upgraded Grace Therapeutics to a “hold” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Grace Therapeutics Price Performance

GRCE opened at $2.12 on Friday. The firm has a 50 day simple moving average of $2.16 and a 200 day simple moving average of $2.71. Grace Therapeutics has a fifty-two week low of $1.79 and a fifty-two week high of $5.18. The company has a market cap of $44.60 million, a price-to-earnings ratio of -1.80 and a beta of 0.44.

Grace Therapeutics (NASDAQ:GRCE) last announced its quarterly earnings data 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 quarter in the previous year, the company earned ($0.21) EPS. As a group, analysts expect that Grace Therapeutics will post -0.8 EPS for the current year.

Institutional Trading of Grace Therapeutics

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

About Grace Therapeutics

Grace Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for rare and debilitating diseases with significant unmet medical needs. The company uses proprietary drug-delivery technologies to develop alternative formulations intended to improve the administration, tolerability, or effectiveness of existing pharmaceutical compounds.

Its pipeline has included GTX-102, an investigational formulation of betamethasone being developed for ataxia-telangiectasia, a rare inherited disorder, and GTX-104, an investigational intravenous formulation of nimodipine intended for patients at risk of complications following aneurysmal subarachnoid hemorrhage.