Grace Therapeutics (NASDAQ:GRCE – Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.18, FiscalAI reports.
Grace Therapeutics Price Performance
Shares of GRCE stock opened at $2.22 on Thursday. The company has a market cap of $34.34 million, a price-to-earnings ratio of -5.55 and a beta of 0.37. Grace Therapeutics has a 52 week low of $1.79 and a 52 week high of $5.18. The firm has a 50 day moving average of $2.73 and a 200-day moving average of $3.42.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on GRCE. Craig Hallum set a $4.00 price target on shares of Grace Therapeutics in a report on Friday, April 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Grace Therapeutics in a report on Tuesday, April 21st. TD Cowen lowered their price target on shares of Grace Therapeutics from $12.00 to $8.00 and set a “buy” rating for the company in a report on Friday, April 24th. Finally, Wall Street Zen lowered shares of Grace Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Grace Therapeutics presently has a consensus rating of “Hold” and an average target price of $6.00.
Institutional Trading of Grace Therapeutics
Several large investors have recently modified their holdings of the stock. SeaCrest Wealth Management LLC acquired a new stake in shares of Grace Therapeutics during the 3rd quarter worth approximately $42,000. XTX Topco Ltd acquired a new stake in shares of Grace Therapeutics during the 4th quarter worth approximately $106,000. Renaissance Technologies LLC grew its position in shares of Grace Therapeutics by 53.5% during the 4th quarter. Renaissance Technologies LLC now owns 129,781 shares of the company’s stock worth $449,000 after buying an additional 45,220 shares during the period. ADAR1 Capital Management LLC grew its position in shares of Grace Therapeutics by 98.4% during the 3rd quarter. ADAR1 Capital Management LLC now owns 350,450 shares of the company’s stock worth $1,043,000 after buying an additional 173,823 shares during the period. Finally, Cerity Partners LLC acquired a new stake in shares of Grace Therapeutics during the 4th quarter worth approximately $1,463,000. Institutional investors and hedge funds own 6.08% of the company’s stock.
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.
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