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

Posted by Oscar Bower on May 1st, 2024

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

IGC Pharma Stock Up 19.8 %

IGC stock opened at $0.55 on Tuesday. The stock has a market capitalization of $37.07 million, a P/E ratio of -2.13 and a beta of 1.71. IGC Pharma has a 12 month low of $0.25 and a 12 month high of $0.91. 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 (NYSEAMERICAN:IGC – Get Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported ($0.09) EPS for the quarter. The company had revenue of $0.20 million during the quarter. IGC Pharma had a negative return on equity of 110.37% and a negative net margin of 1,163.24%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in IGC Pharma stock. Commonwealth Equity Services LLC grew its position in IGC Pharma, Inc. (NYSEAMERICAN:IGC – Free Report) by 211.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 165,490 shares of the construction company’s stock after buying an additional 112,334 shares during the period. Commonwealth Equity Services LLC owned 0.31% of IGC Pharma worth $59,000 at the end of the most recent quarter. Institutional investors and hedge funds own 3.87% of the company’s stock.

IGC Pharma Company Profile

(Get Free Report)

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.