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

Analysts at StockNews.com assumed coverage on shares of IGC Pharma (NYSEAMERICAN:IGC) in a report released on Wednesday. The firm set a “sell” rating on the construction company’s stock.

IGC Pharma Stock Down 2.1 %

IGC Pharma stock opened at $0.43 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.85 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $28.73 million, a price-to-earnings ratio of -1.65 and a beta of 1.71. IGC Pharma has a 12 month low of $0.25 and a 12 month high of $0.91.

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

Hedge Funds Weigh In On IGC Pharma

A hedge fund recently raised its stake in IGC Pharma stock. Commonwealth Equity Services LLC lifted its stake in IGC Pharma, Inc. (NYSEAMERICAN:IGC) by 211.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 about 0.31% of IGC Pharma worth $59,000 at the end of the most recent reporting period. 3.87% of the stock is currently owned by institutional investors and hedge funds.

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.