Grace Therapeutics (NASDAQ:GRCE – Get Free Report) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.
A number of other brokerages have also commented on GRCE. Zacks Research upgraded Grace Therapeutics to a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Grace Therapeutics in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Grace Therapeutics has an average rating of “Hold” and a consensus price target of $6.00.
Read Our Latest Stock Analysis on GRCE
Grace Therapeutics Stock Performance
Grace Therapeutics (NASDAQ:GRCE – Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.78). During the same quarter last year, the firm posted ($0.21) earnings per share. Analysts predict that Grace Therapeutics will post -0.8 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Eversept Partners LP acquired a new stake in shares of Grace Therapeutics during the 1st quarter worth approximately $3,503,000. Bank of America Corp DE purchased a new position in shares of Grace Therapeutics during the 2nd quarter valued at approximately $1,123,000. Stonepine Capital Management LLC acquired a new position in shares of Grace Therapeutics in the 2nd quarter valued at $62,125,000. Maven Securities LTD purchased a new stake in Grace Therapeutics during the second quarter worth $454,000. Finally, Renaissance Technologies LLC boosted its holdings in Grace Therapeutics by 87.9% during the first quarter. Renaissance Technologies LLC now owns 243,910 shares of the company’s stock worth $1,129,000 after buying an additional 114,129 shares in the last quarter. 6.08% of the stock is currently owned by hedge funds and other institutional investors.
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.
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