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

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

IGC Pharma Price Performance

IGC Pharma stock opened at $0.59 on Thursday. The stock has a market capitalization of $37.60 million, a price-to-earnings ratio of -2.27 and a beta of 1.71. 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 has a 1 year low of $0.25 and a 1 year high of $0.91.

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

Institutional Investors Weigh In On IGC Pharma

Several hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC lifted its position in shares of IGC Pharma by 47.4% in the 3rd quarter. Renaissance Technologies LLC now owns 320,900 shares of the construction company’s stock worth $138,000 after purchasing an additional 103,151 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of IGC Pharma by 211.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 165,490 shares of the construction company’s stock worth $59,000 after purchasing an additional 112,334 shares during the period. Millennium Management LLC lifted its position in shares of IGC Pharma by 76.2% in the 4th quarter. Millennium Management LLC now owns 144,724 shares of the construction company’s stock worth $46,000 after purchasing an additional 62,599 shares during the period. Vident Investment Advisory LLC raised its stake in shares of IGC Pharma by 66.3% during the 1st quarter. Vident Investment Advisory LLC now owns 104,011 shares of the construction company’s stock worth $99,000 after acquiring an additional 41,457 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of IGC Pharma by 302.6% during the 2nd quarter. Jane Street Group LLC now owns 48,281 shares of the construction company’s stock worth $26,000 after acquiring an additional 36,290 shares in the last quarter. Hedge funds and other institutional investors own 3.87% of the company’s stock.

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.