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

StockNews.com began coverage on shares of IGC Pharma (NYSEAMERICAN:IGC) in a note issued to investors on Wednesday. The firm set a “sell” rating on the construction company’s stock.

IGC Pharma Stock Up 2.6 %

Shares of NYSEAMERICAN:IGC opened at $0.46 on Wednesday. The firm has a market cap of $30.51 million, a PE ratio of -1.76 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 1 year low of $0.25 and a 1 year high of $0.91.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in IGC Pharma stock. Commonwealth Equity Services LLC raised its position in IGC Pharma, Inc. (NYSEAMERICAN:IGC) by 211.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 165,490 shares of the construction company’s stock after acquiring an additional 112,334 shares during the quarter. Commonwealth Equity Services LLC owned approximately 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 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.