StockNews.com Begins Coverage on IGC Pharma (NYSEAMERICAN:IGC)

StockNews.com initiated coverage on shares of IGC Pharma (NYSEAMERICAN:IGC) in a research report sent to investors on Thursday. The brokerage issued a sell rating on the construction company’s stock.

IGC Pharma Stock Up 2.9 %

Shares of IGC opened at $0.49 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.85 and a debt-to-equity ratio of 0.02. IGC Pharma has a 1 year low of $0.25 and a 1 year high of $0.91. The company has a market cap of $31.23 million, a price-to-earnings ratio of -1.88 and a beta of 1.71.

IGC Pharma (NYSEAMERICAN:IGC) last posted its earnings results on Wednesday, February 14th. The construction company reported ($0.09) EPS for the quarter. The firm had revenue of $0.20 million for the quarter. IGC Pharma had a negative net margin of 1,163.24% and a negative return on equity of 110.37%.

Institutional Trading of IGC Pharma

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC increased its stake in IGC Pharma by 302.6% in the second quarter. Jane Street Group LLC now owns 48,281 shares of the construction company’s stock worth $26,000 after purchasing an additional 36,290 shares during the period. Vident Investment Advisory LLC increased its stake in IGC Pharma by 66.3% in the first quarter. Vident Investment Advisory LLC now owns 104,011 shares of the construction company’s stock worth $99,000 after purchasing an additional 41,457 shares during the period. Millennium Management LLC increased its stake in IGC Pharma by 76.2% in the fourth quarter. Millennium Management LLC now owns 144,724 shares of the construction company’s stock worth $46,000 after purchasing an additional 62,599 shares during the period. Renaissance Technologies LLC increased its stake in shares of IGC Pharma by 47.5% during the second quarter. Renaissance Technologies LLC now owns 162,709 shares of the construction company’s stock valued at $51,000 after buying an additional 52,409 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in shares of IGC Pharma by 211.3% during the third quarter. Commonwealth Equity Services LLC now owns 165,490 shares of the construction company’s stock valued at $59,000 after buying an additional 112,334 shares during the period. 3.87% of the stock is currently owned by institutional investors.

IGC Pharma Company Profile

IGC Pharma, Inc, a clinical stage biotechnology company, engages in developing cannabinoid-based formulations for treating diseases and conditions, including Alzheimer's disease, dysmenorrhea, premenstrual syndrome, and chronic pain. The company has two investigational drug assets targeting Alzheimer's disease comprising IGC-AD1, which is in a Phase 2B clinical trial as a treatment for agitation in dementia due to Alzheimer's; and TGR-63 that is in pre-clinical development.