Grace Therapeutics (NASDAQ:GRCE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Grace Therapeutics (NASDAQ:GRCE) from a strong sell rating to a sell rating in a research note released on Monday morning,Wall Street Zen reports.

Several other research analysts have also commented on the stock. Zacks Research raised shares of Grace Therapeutics to a “hold” rating in a report on Monday, August 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grace Therapeutics in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Grace Therapeutics currently has an average rating of “Hold” and an average price target of $6.00.

Grace Therapeutics Price Performance

Shares of GRCE opened at $1.89 on Monday. The stock has a market capitalization of $39.77 million, a PE ratio of -1.60 and a beta of 0.33. The business’s fifty day moving average price is $2.12 and its 200 day moving average price is $2.51. Grace Therapeutics has a 12-month low of $1.79 and a 12-month high of $5.18.

Grace Therapeutics (NASDAQ:GRCE) last released its earnings results on Friday, August 14th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.78). During the same quarter in the previous year, the company posted ($0.21) EPS. As a group, research analysts anticipate that Grace Therapeutics will post -0.80 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eversept Partners LP bought a new position in Grace Therapeutics during the 1st quarter worth $3,503,000. Bank of America Corp DE acquired a new stake in Grace Therapeutics in the second quarter worth $1,123,000. Stonepine Capital Management LLC bought a new stake in Grace Therapeutics in the second quarter valued at $62,125,000. Maven Securities LTD bought a new stake in Grace Therapeutics in the second quarter valued at $454,000. Finally, Renaissance Technologies LLC boosted its holdings 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 valued at $1,129,000 after acquiring an additional 114,129 shares during the period. Institutional investors and hedge funds own 6.08% of the company’s stock.

About Grace Therapeutics

Grace Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for rare and serious medical conditions. The company uses proprietary drug-delivery technologies to develop pharmaceutical formulations intended to improve the administration, absorption, and clinical utility of existing or emerging therapies.

Its development pipeline has included GTX-104, an investigational formulation of nimodipine being developed for patients with aneurysmal subarachnoid hemorrhage, a life-threatening type of bleeding in the brain.