Grace Therapeutics (NASDAQ:GRCE) Issues Earnings Results

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

Grace Therapeutics Stock Performance

Shares of NASDAQ GRCE opened at $2.38 on Friday. The firm has a market cap of $36.82 million, a PE ratio of -4.96 and a beta of 0.37. Grace Therapeutics has a 1-year low of $1.79 and a 1-year high of $5.18. The company has a fifty day moving average price of $2.68 and a 200 day moving average price of $3.41.

Analysts Set New Price Targets

GRCE has been the topic of several recent analyst reports. TD Cowen cut their price objective on Grace Therapeutics from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Craig Hallum set a $4.00 target price on Grace Therapeutics in a research note on Friday, April 24th. Wall Street Zen cut Grace Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Grace Therapeutics in a report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Grace Therapeutics presently has an average rating of “Hold” and an average target price of $6.00.

Institutional Trading of Grace Therapeutics

A number of institutional investors have recently modified their holdings of the company. SeaCrest Wealth Management LLC acquired a new position in shares of Grace Therapeutics during the third quarter worth about $42,000. XTX Topco Ltd acquired a new stake in Grace Therapeutics in the 4th quarter valued at approximately $106,000. Renaissance Technologies LLC raised its position 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 buying an additional 45,220 shares during the last quarter. ADAR1 Capital Management LLC lifted its stake 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 acquiring an additional 173,823 shares in the last quarter. Finally, Cerity Partners LLC acquired a new position in Grace Therapeutics during the 4th quarter worth approximately $1,463,000. 6.08% of the stock is currently owned by institutional investors.

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.