Grace Therapeutics (NASDAQ:GRCE) Announces Earnings Results

Grace Therapeutics (NASDAQ:GRCE) announced its earnings results on Thursday. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.03), Zacks reports.

Grace Therapeutics Trading Down 1.3%

Shares of NASDAQ:GRCE traded down $0.04 on Friday, reaching $3.06. 42,370 shares of the company were exchanged, compared to its average volume of 64,983. The company has a 50-day moving average of $3.09 and a 200-day moving average of $3.04. The firm has a market cap of $42.32 million, a price-to-earnings ratio of -3.56 and a beta of 0.99. Grace Therapeutics has a 1-year low of $1.75 and a 1-year high of $4.97.

Analyst Ratings Changes

Several analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grace Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen upgraded Grace Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Grace Therapeutics has a consensus rating of “Hold” and a consensus target price of $12.00.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Grace Therapeutics stock. ADAR1 Capital Management LLC increased its holdings in Grace Therapeutics, Inc. (NASDAQ:GRCE) by 98.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 350,450 shares of the company’s stock after buying an additional 173,823 shares during the period. ADAR1 Capital Management LLC owned about 2.53% of Grace Therapeutics worth $1,043,000 as of its most recent SEC filing. 6.08% of the stock is owned by institutional investors and hedge funds.

Grace Therapeutics Company Profile

Grace Therapeutics Inc is a late-stage biopharma company advancing GTx-104, its novel injectable formulation of nimodipine which addresses high unmet medical needs for a rare disease, aneurysmal subarachnoid hemorrhage. Grace Therapeutics Inc, formerly known as Acasti Pharma Inc, is based in Princeton, New Jersey.