IGC Pharma (NYSEAMERICAN:IGC) Now Covered by StockNews.com

StockNews.com started coverage on shares of IGC Pharma (NYSEAMERICAN:IGC) in a research report released on Wednesday. The brokerage issued a sell rating on the construction company’s stock.

IGC Pharma Stock Performance

Shares of IGC Pharma stock opened at $0.44 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.85 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $29.33 million, a PE ratio of -1.69 and a beta of 1.71. IGC Pharma has a 12-month low of $0.25 and a 12-month high of $0.91.

IGC Pharma (NYSEAMERICAN:IGC) last announced its quarterly earnings results on Wednesday, February 14th. The construction company reported ($0.09) earnings per share for the quarter. The company had revenue of $0.20 million during 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 grew its stake in IGC Pharma, Inc. (NYSEAMERICAN:IGC) by 211.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 165,490 shares of the construction company’s stock after purchasing an additional 112,334 shares during the period. Commonwealth Equity Services LLC owned approximately 0.31% of IGC Pharma worth $59,000 at the end of the most recent reporting period. 3.87% of the stock is 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.