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

Analysts at StockNews.com initiated coverage on shares of IGC Pharma (NYSEAMERICAN:IGC) in a report issued on Monday. The brokerage set a “sell” rating on the construction company’s stock.

IGC Pharma Trading Up 1.7 %

IGC opened at $0.52 on Monday. The company has a market capitalization of $34.73 million, a price-to-earnings ratio of -2.00 and a beta of 1.63. IGC Pharma has a 1-year low of $0.25 and a 1-year high of $0.91. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.85 and a quick ratio of 0.86.

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

Hedge Funds Weigh In On IGC Pharma

An institutional investor recently raised its position in IGC Pharma stock. Commonwealth Equity Services LLC boosted its holdings in shares of IGC Pharma, Inc. (NYSEAMERICAN:IGC) by 211.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,490 shares of the construction company’s stock after purchasing an additional 112,334 shares during the quarter. Commonwealth Equity Services LLC owned about 0.31% of IGC Pharma worth $59,000 as of its most recent SEC filing. 3.87% of the stock is currently owned by hedge funds and other 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.