IGC Pharma (NYSEAMERICAN:IGC) Coverage Initiated by Analysts at StockNews.com

Posted by Renee Jackson on May 9th, 2024

StockNews.com started coverage on shares of IGC Pharma (NYSEAMERICAN:IGC – Free Report) in a report published on Monday morning. The brokerage issued a sell rating on the construction company’s stock.

IGC Pharma Price Performance

Shares of NYSEAMERICAN IGC opened at $0.54 on Monday. The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.02. IGC Pharma has a 52-week low of $0.25 and a 52-week high of $0.91. The stock has a market capitalization of $35.94 million, a price-to-earnings ratio of -2.07 and a beta of 1.63.

IGC Pharma (NYSEAMERICAN:IGC – Get Free Report) last released its quarterly earnings data on Wednesday, February 14th. The construction company reported ($0.09) earnings per share (EPS) for the quarter. The company 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 Investors Weigh In On IGC Pharma

An institutional investor recently raised its position in IGC Pharma stock. Commonwealth Equity Services LLC lifted its stake in IGC Pharma, Inc. (NYSEAMERICAN:IGC – Free Report) by 211.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 165,490 shares of the construction company’s stock after acquiring an additional 112,334 shares during the period. Commonwealth Equity Services LLC owned 0.31% of IGC Pharma worth $59,000 as of its most recent filing with the Securities and Exchange Commission. 3.87% of the stock is currently owned by institutional investors and hedge funds.

About IGC Pharma

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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.