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

Wall Street Zen upgraded shares of Grace Therapeutics (NASDAQ:GRCE – Free Report) from a strong sell rating to a sell rating in a report released on Monday,Wall Street Zen reports.

A number of other equities analysts have also recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Grace Therapeutics in a report on Friday, July 17th. Zacks Research raised shares of Grace Therapeutics to a “hold” rating in a research report on Monday, August 3rd. One research 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.00.

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Grace Therapeutics Price Performance

Shares of NASDAQ GRCE opened at $2.02 on Monday. Grace Therapeutics has a 1-year low of $1.79 and a 1-year high of $5.18. The business has a 50-day moving average of $2.13 and a 200-day moving average of $2.55. The company has a market capitalization of $42.50 million, a price-to-earnings ratio of -1.71 and a beta of 0.33.

Grace Therapeutics (NASDAQ:GRCE – Get Free Report) last posted its earnings results 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 last year, the business posted ($0.21) earnings per share. Research analysts expect that Grace Therapeutics will post -0.80 EPS for the current fiscal year.

Hedge Funds Weigh In On Grace Therapeutics

A number of institutional investors have recently added to or reduced their stakes in GRCE. Maven Securities LTD acquired a new stake in shares of Grace Therapeutics during the second quarter valued at about $454,000. Stonepine Capital Management LLC purchased a new stake in shares of Grace Therapeutics during the second quarter worth about $62,125,000. Bank of America Corp DE purchased a new stake in shares of Grace Therapeutics during the second quarter worth about $1,123,000. BlackRock Inc. acquired a new position in shares of Grace Therapeutics in the second quarter worth about $85,000. Finally, Eversept Partners LP acquired a new position in shares of Grace Therapeutics in the first quarter worth about $3,503,000. Institutional investors and hedge funds own 6.08% of the company’s stock.

About Grace Therapeutics

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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.

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