Grace Therapeutics (NASDAQ:GRCE) Stock Rating Upgraded by Zacks Research

Grace Therapeutics (NASDAQ:GRCE) was upgraded by research analysts at Zacks Research to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. TD Cowen cut their price target on shares of Grace Therapeutics from $12.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Wall Street Zen downgraded Grace Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Craig Hallum set a $4.00 price objective on Grace Therapeutics in a research report on Friday, April 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Grace Therapeutics in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.00.

Grace Therapeutics Stock Performance

Shares of NASDAQ GRCE opened at $2.18 on Monday. The company’s 50 day moving average price is $2.35 and its 200-day moving average price is $3.16. Grace Therapeutics has a 52-week low of $1.79 and a 52-week high of $5.18. The company has a market capitalization of $35.47 million, a P/E ratio of -4.54 and a beta of 0.39.

Grace Therapeutics (NASDAQ:GRCE) last posted its quarterly earnings data on Thursday, June 18th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.17. Analysts forecast that Grace Therapeutics will post -0.8 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Eversept Partners LP bought a new stake in shares of Grace Therapeutics during the first quarter valued at approximately $3,503,000. Renaissance Technologies LLC raised its position in shares of 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 purchasing an additional 114,129 shares during the period. Pale Fire Capital SE bought a new position in shares of Grace Therapeutics in the 1st quarter worth $175,000. Kestra Private Wealth Services LLC bought a new position in shares of Grace Therapeutics in the 1st quarter worth $60,000. Finally, XTX Topco Ltd acquired a new stake in Grace Therapeutics in the 4th quarter valued at $106,000. 6.08% of the stock is owned by institutional investors and hedge funds.

Grace Therapeutics Company Profile

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.