Grace Therapeutics (NASDAQ:GRCE) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Grace Therapeutics (NASDAQ:GRCE) to a hold rating in a research report report published on Monday,Zacks.com reports.

GRCE has been the topic of a number of other reports. TD Cowen decreased their target price on Grace Therapeutics from $12.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Craig Hallum set a $4.00 price target on Grace Therapeutics in a research report on Friday, April 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Grace Therapeutics in a report on Friday, July 17th. Finally, Wall Street Zen cut shares of Grace Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.00.

Grace Therapeutics Price Performance

NASDAQ GRCE opened at $2.18 on Monday. The company’s 50 day simple moving average is $2.35 and its two-hundred day simple moving average is $3.16. Grace Therapeutics has a 1 year low of $1.79 and a 1 year high of $5.18. The stock has a market capitalization of $35.47 million, a PE ratio of -4.54 and a beta of 0.39.

Grace Therapeutics (NASDAQ:GRCE) last issued its quarterly earnings data on Thursday, June 18th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.17. On average, research analysts anticipate that Grace Therapeutics will post -0.8 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. bought a new position in Grace Therapeutics in the fourth quarter valued at $39,000. Kestra Private Wealth Services LLC bought a new stake in Grace Therapeutics during the first quarter worth about $60,000. SeaCrest Wealth Management LLC purchased a new position in shares of Grace Therapeutics in the 3rd quarter worth about $42,000. XTX Topco Ltd purchased a new position in shares of Grace Therapeutics in the 4th quarter worth about $106,000. Finally, Pale Fire Capital SE bought a new position in shares of Grace Therapeutics during the 1st quarter valued at about $175,000. 6.08% of the stock is currently owned by hedge funds and other 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.