Grace Therapeutics (NASDAQ:GRCE) Announces Earnings Results

Grace Therapeutics (NASDAQ:GRCE) released its earnings results on Thursday. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.17, Zacks reports.

Grace Therapeutics Stock Performance

GRCE opened at $2.38 on Friday. The stock has a market capitalization of $36.82 million, a PE ratio of -4.96 and a beta of 0.37. Grace Therapeutics has a one year low of $1.79 and a one year high of $5.18. The business’s 50 day moving average price is $2.68 and its 200 day moving average price is $3.41.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GRCE. SeaCrest Wealth Management LLC purchased a new position in Grace Therapeutics during the third quarter worth about $42,000. XTX Topco Ltd purchased a new position in shares of Grace Therapeutics during the 4th quarter worth approximately $106,000. Renaissance Technologies LLC increased its holdings in Grace Therapeutics by 53.5% in the 4th quarter. Renaissance Technologies LLC now owns 129,781 shares of the company’s stock valued at $449,000 after purchasing an additional 45,220 shares during the last quarter. ADAR1 Capital Management LLC increased its holdings in Grace Therapeutics by 98.4% in the 3rd quarter. ADAR1 Capital Management LLC now owns 350,450 shares of the company’s stock valued at $1,043,000 after purchasing an additional 173,823 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in Grace Therapeutics in the fourth quarter valued at approximately $1,463,000. Institutional investors and hedge funds own 6.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. TD Cowen dropped their price target on Grace Therapeutics from $12.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grace Therapeutics in a research report on Tuesday, April 21st. Craig Hallum set a $4.00 price objective on Grace Therapeutics in a research note on Friday, April 24th. Finally, Wall Street Zen lowered Grace Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Grace Therapeutics currently has an average rating of “Hold” and an average target price of $6.00.

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.