Grace Therapeutics (NASDAQ:GRCE) Posts Earnings Results, Misses Expectations By $0.05 EPS

Grace Therapeutics (NASDAQ:GRCE) announced its quarterly earnings data on Thursday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05), FiscalAI reports.

Grace Therapeutics Price Performance

Shares of NASDAQ GRCE traded down $0.02 during mid-day trading on Thursday, hitting $3.57. 25,496 shares of the stock traded hands, compared to its average volume of 102,518. The company has a market cap of $55.24 million, a PE ratio of -5.76 and a beta of 0.76. Grace Therapeutics has a twelve month low of $1.75 and a twelve month high of $3.94. The firm has a 50 day simple moving average of $3.54 and a two-hundred day simple moving average of $3.25.

Analysts Set New Price Targets

GRCE has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grace Therapeutics in a research note on Thursday, January 22nd. Wall Street Zen raised Grace Therapeutics to a “hold” rating in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Grace Therapeutics currently has an average rating of “Hold” and an average target price of $12.00.

Institutional Investors Weigh In On Grace Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Cerity Partners LLC bought a new stake in Grace Therapeutics during the 4th quarter worth approximately $1,463,000. ADAR1 Capital Management LLC increased its holdings in Grace Therapeutics by 98.4% in the third 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 period. Finally, SeaCrest Wealth Management LLC acquired a new stake in Grace Therapeutics in the third quarter valued at $42,000. 6.08% of the stock is currently owned by institutional investors and hedge funds.

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.