TD Cowen analyst Stacy Ku lowered the firm’s price target on Grace Therapeutics (GRCE) to $8 from $12 and keeps a Buy rating on the shares. The firm said GTx-104’s CRL is related to CMC, with no requests for additional clinical data. Management will seek a Type A meeting which should clarify resubmission timelines. They assume a roughly 12 month delay, with potential for faster resolution.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GRCE:
- Grace Therapeutics: Buy Rating Maintained as Addressable CMC Setback Delays but Does Not Derail GTx‑104 Value Thesis
- Grace Therapeutics Receives FDA Complete Response for GTx-104
- Grace Therapeutics down 48% after receipt of CRL from FDA for GTx-104
- Grace Therapeutics, Inc trading resumes
- Grace Therapeutics issued Complete Response Letter from FDA