Grace Therapeutics (NASDAQ: GRCE) received a new rating from Wall Street Zen, which upgraded the stock to a “hold” on October 6, 2023. This change comes as part of a broader evaluation of the company’s performance and market outlook. Meanwhile, on October 8, 2023, Weiss Ratings reissued a “sell (D-)” rating for the same shares, reflecting divergent opinions among analysts.
The current consensus on Grace Therapeutics from analysts indicates two “buy” ratings alongside one “sell” rating, leading to an overall average rating of “hold.” According to data from MarketBeat.com, the average price target for the stock stands at $12.00.
Recent Financial Performance and Forecasts
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 predict that Grace Therapeutics will report an EPS of ($1.06) for the current fiscal year, indicating ongoing financial challenges.
Institutional investors have been adjusting their positions in Grace Therapeutics, with several hedge funds making notable moves. For instance, Stratos Wealth Partners LTD. acquired a new stake in the company worth approximately $39,000 during the fourth quarter. Similarly, SeaCrest Wealth Management LLC bought into Grace Therapeutics for around $42,000 in the third quarter, while Millington Financial Advisors LLC invested approximately $59,000 in the second quarter. Palumbo Wealth Management LLC also increased its investment significantly, purchasing shares valued at $144,000.
Notably, ADAR1 Capital Management LLC escalated its position by 98.4% in the third quarter, now holding 350,450 shares valued at approximately $1,043,000 following the acquisition of an additional 173,823 shares during the period. Currently, institutional investors and hedge funds own 6.08% of Grace Therapeutics’ stock.
About Grace Therapeutics
Grace Therapeutics, Inc. is a clinical-stage biotechnology firm focused on developing innovative therapies for rare genetic diseases. The company employs a proprietary platform that fuses advanced molecular biology with biologic engineering to identify and enhance gene-based and protein-based candidates aimed at addressing specific genetic drivers of various diseases.
Grace Therapeutics’ pipeline includes multiple preclinical programs targeting lysosomal storage disorders and other inherited metabolic conditions. As the company continues to evolve, its performance and strategic direction will be closely monitored by investors and analysts alike.
For updates on Grace Therapeutics, including news and analysts’ ratings, interested parties can subscribe to MarketBeat.com for daily summaries.
