Grace Therapeutics (NASDAQ:GRCE) Raised to Sell at Wall Street Zen

Grace Therapeutics (NASDAQ:GRCE) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Monday, Wall Street Zen reports.

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

Grace Therapeutics Stock Performance

NASDAQ:GRCE opened at $1.99 on Monday. The firm’s 50-day moving average is $2.13 and its 200-day moving average is $2.53. The company has a market cap of $41.87 million, a price-to-earnings ratio of -1.69 and a beta of 0.33. Grace Therapeutics has a 52-week low of $1.79 and a 52-week 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 last year, the company posted ($0.21) EPS. Equities analysts predict that Grace Therapeutics will post -0.80 EPS for the current year.

Institutional Investors Weigh In On Grace Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of GRCE. Eversept Partners LP acquired a new stake in shares of Grace Therapeutics during the 1st quarter valued at about $3,503,000. Bank of America Corp DE bought a new stake in Grace Therapeutics in the second quarter valued at about $1,123,000. Stonepine Capital Management LLC bought a new stake in Grace Therapeutics in the second quarter valued at about $62,125,000. Renaissance Technologies LLC raised its position in Grace Therapeutics by 87.9% in the first quarter. Renaissance Technologies LLC now owns 243,910 shares of the company’s stock worth $1,129,000 after purchasing an additional 114,129 shares in the last quarter. Finally, Maven Securities LTD acquired a new position in Grace Therapeutics in the second quarter worth about $454,000. Institutional investors 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.