Grace Therapeutics (NASDAQ: GRCE) received an upgrade from Wall Street Zen to a “hold” rating in a research report released on October 6, 2023. This shift comes amid mixed reviews from analysts, as Weiss Ratings reaffirmed a “sell (d-)” rating on the company’s shares just two days prior, on October 4.
Currently, two analysts have assigned a Buy rating to Grace Therapeutics, while one has issued a Sell rating. According to data from MarketBeat.com, the stock has an average rating of “Hold” with a price target of $12.00.
Recent Earnings and Analyst Projections
Grace Therapeutics announced its quarterly earnings results on November 13, 2023. The company reported an earnings per share (EPS) of ($0.15), which fell short of analysts’ consensus estimates of ($0.12) by $0.03. Looking ahead, research analysts project that Grace Therapeutics will report an EPS of (–1.06) for the current fiscal year.
Institutional Investment Activity
Recent activity among institutional investors and hedge funds indicates a growing interest in Grace Therapeutics. Stratos Wealth Partners LTD. initiated a new position during the fourth quarter, investing approximately $39,000. Meanwhile, SeaCrest Wealth Management LLC acquired a stake worth about $42,000 in the third quarter, and Millington Financial Advisors LLC invested $59,000 in the second quarter.
Palumbo Wealth Management LLC also entered the market with a new position valued at $144,000 in the second quarter. Additionally, ADAR1 Capital Management LLC significantly increased its holdings by 98.4%, now owning 350,450 shares worth approximately $1,043,000 after acquiring an additional 173,823 shares during the third quarter. Collectively, institutional investors and hedge funds own 6.08% of Grace Therapeutics’ stock.
Grace Therapeutics is a clinical-stage biotechnology company focused on developing novel therapies for rare genetic diseases. Utilizing a proprietary platform that integrates advanced molecular biology and biological engineering, the company aims to identify and optimize gene-based and protein-based candidates targeting specific genetic drivers of disease. Its development pipeline includes multiple preclinical programs aimed at addressing lysosomal storage disorders and other inherited metabolic conditions.
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