Grace Therapeutics (NASDAQ:GRCE) Stock Rating Lowered by Wall Street Zen

Grace Therapeutics (NASDAQ:GRCE) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Sunday, Wall Street Zen reports.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Grace Therapeutics in a research note on Friday, July 17th. Zacks Research raised Grace Therapeutics to a “hold” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.00.

Grace Therapeutics Trading Down 0.5%

Shares of Grace Therapeutics stock opened at $2.06 on Friday. The company’s fifty day simple moving average is $2.14 and its two-hundred day simple moving average is $2.64. The company has a market cap of $43.34 million, a P/E ratio of -1.75 and a beta of 0.33. Grace Therapeutics has a 12-month low of $1.79 and a 12-month high of $5.18.

Grace Therapeutics (NASDAQ:GRCE) last issued its quarterly earnings data on Friday, August 14th. 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 company posted ($0.21) EPS. Analysts predict that Grace Therapeutics will post -0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Grace Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of GRCE. Kestra Private Wealth Services LLC purchased a new position in shares of Grace Therapeutics during the first quarter valued at approximately $60,000. BlackRock Inc. purchased a new stake in shares of Grace Therapeutics in the 2nd quarter worth approximately $85,000. Pale Fire Capital SE purchased a new stake in shares of Grace Therapeutics in the 1st quarter worth approximately $175,000. Maven Securities LTD bought a new position in Grace Therapeutics during the 2nd quarter valued at approximately $454,000. Finally, Renaissance Technologies LLC increased its position in Grace Therapeutics by 87.9% during the 1st quarter. Renaissance Technologies LLC now owns 243,910 shares of the company’s stock valued at $1,129,000 after buying an additional 114,129 shares in the last quarter. Hedge funds and other institutional investors own 6.08% of the company’s stock.

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.