IGC Pharma (NYSEAMERICAN:IGC) Research Coverage Started at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of IGC Pharma (NYSEAMERICAN:IGC) in a note issued to investors on Tuesday. The brokerage set a “sell” rating on the construction company’s stock.

IGC Pharma Stock Up 1.1 %

NYSEAMERICAN:IGC opened at $0.46 on Tuesday. IGC Pharma has a 52 week low of $0.25 and a 52 week high of $0.91. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.86 and a current ratio of 1.85. The stock has a market cap of $30.95 million, a P/E ratio of -1.78 and a beta of 1.71.

IGC Pharma (NYSEAMERICAN:IGC) last announced its earnings results on Wednesday, February 14th. The construction company reported ($0.09) EPS for the quarter. The business had revenue of $0.20 million for 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

A hedge fund recently raised its stake in IGC Pharma stock. Commonwealth Equity Services LLC boosted its holdings in shares of IGC Pharma, Inc. (NYSEAMERICAN:IGC) by 211.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 about 0.31% of IGC Pharma worth $59,000 at the end of the most recent quarter. 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.