Grace Therapeutics (NASDAQ:GRCE) Posts Quarterly Earnings Results, Misses Estimates By $0.78 EPS

Grace Therapeutics (NASDAQ:GRCE) issued its earnings results on Thursday. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.78), FiscalAI reports. During the same period in the prior year, the firm posted ($0.21) earnings per share.

Grace Therapeutics Price Performance

GRCE opened at $2.16 on Friday. The firm has a fifty day moving average price of $2.29 and a 200 day moving average price of $3.08. Grace Therapeutics has a 1 year low of $1.79 and a 1 year high of $5.18. The stock has a market cap of $35.15 million, a P/E ratio of -1.83 and a beta of 0.39.

Analyst Ratings Changes

GRCE has been the topic of a number of recent research reports. Craig Hallum set a $4.00 target price on Grace Therapeutics in a research report on Friday, April 24th. Wall Street Zen lowered shares of Grace Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday. Zacks Research raised Grace Therapeutics to a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grace Therapeutics in a research note on Friday, July 17th. Finally, TD Cowen decreased their price objective on Grace Therapeutics from $12.00 to $8.00 and set a “buy” rating for the company in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC purchased a new stake in shares of Grace Therapeutics during the 4th quarter worth about $1,463,000. ADAR1 Capital Management LLC boosted its position in Grace Therapeutics by 83.2% during the fourth quarter. ADAR1 Capital Management LLC now owns 641,988 shares of the company’s stock worth $2,221,000 after purchasing an additional 291,538 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Grace Therapeutics by 53.5% in the fourth quarter. Renaissance Technologies LLC now owns 129,781 shares of the company’s stock valued at $449,000 after buying an additional 45,220 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Grace Therapeutics during the 4th quarter worth approximately $106,000. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of Grace Therapeutics during the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 6.08% of the company’s stock.

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.