IGC Pharma (NYSEAMERICAN:IGC) PT Raised to $3.50

IGC Pharma (NYSEAMERICAN:IGC) had its target price boosted by Ascendiant Capital Markets from $3.25 to $3.50 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock.

Several other research firms also recently issued reports on IGC. Alliance Global Partners started coverage on shares of IGC Pharma in a research note on Wednesday, July 17th. They set a “buy” rating and a $3.50 price target on the stock. StockNews.com started coverage on shares of IGC Pharma in a research report on Monday, May 6th. They set a “sell” rating for the company.

IGC Pharma Stock Up 1.3 %

NYSEAMERICAN IGC opened at $0.46 on Monday. The company has a current ratio of 1.58, a quick ratio of 0.93 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 stock has a market capitalization of $34.72 million, a PE ratio of -2.09 and a beta of 1.30.

IGC Pharma (NYSEAMERICAN:IGC) last announced its earnings results on Monday, June 24th. The construction company reported ($0.04) EPS for the quarter. The company had revenue of $0.30 million for the quarter. IGC Pharma had a negative net margin of 966.54% and a negative return on equity of 119.06%.

About IGC Pharma

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.