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

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

IGC Pharma Price Performance

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

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

Hedge Funds Weigh In On IGC Pharma

An institutional investor recently raised its position in IGC Pharma stock. Commonwealth Equity Services LLC increased its stake in IGC Pharma, Inc. (NYSEAMERICAN:IGC) by 211.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 approximately 0.31% of IGC Pharma worth $59,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 3.87% of the company’s stock.

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.