Wall Street Zen Downgrades Grace Therapeutics (NASDAQ:GRCE) to Strong Sell
by Amy Steele · The Cerbat GemGrace Therapeutics (NASDAQ:GRCE – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.
GRCE has been the subject of several other research reports. Zacks Research raised Grace Therapeutics to a “hold” rating in a report on Monday, August 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grace Therapeutics in a research note on Friday, July 17th. TD Cowen dropped their target price on shares of Grace Therapeutics from $12.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Finally, Craig Hallum set a $4.00 price target on shares of Grace Therapeutics in a research note on Friday, April 24th. One investment 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.00.
View Our Latest Analysis on Grace Therapeutics
Grace Therapeutics Stock Performance
Grace Therapeutics stock opened at $2.16 on Friday. Grace Therapeutics has a fifty-two week low of $1.79 and a fifty-two week high of $5.18. The stock has a market cap of $45.45 million, a P/E ratio of -1.83 and a beta of 0.39. The firm’s fifty day moving average price is $2.29 and its 200-day moving average price is $3.07.
Grace Therapeutics (NASDAQ:GRCE – Get Free Report) last posted its earnings results on Thursday, August 13th. 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) earnings per share. Sell-side analysts predict that Grace Therapeutics will post -0.8 earnings per share for the current year.
Hedge Funds Weigh In On Grace Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of the company. SeaCrest Wealth Management LLC bought a new position in shares of Grace Therapeutics during the 3rd quarter valued at about $42,000. Kestra Private Wealth Services LLC purchased a new stake in Grace Therapeutics in the first quarter worth approximately $60,000. BlackRock Inc. purchased a new stake in Grace Therapeutics in the second quarter worth approximately $85,000. XTX Topco Ltd bought a new position in Grace Therapeutics during the fourth quarter valued at approximately $106,000. Finally, Pale Fire Capital SE purchased a new position in shares of Grace Therapeutics during the first quarter worth approximately $175,000. 6.08% of the stock is currently owned by hedge funds and other institutional investors.
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.