IGC Pharma (NYSEAMERICAN:IGC) Given New $5.25 Price Target at Ascendiant Capital Markets

IGC Pharma (NYSEAMERICAN:IGC) had its target price increased by Ascendiant Capital Markets from $5.00 to $5.25 in a report issued on Wednesday morning,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

IGC Pharma Stock Performance

Shares of IGC stock opened at $0.28 on Wednesday. The stock has a market cap of $27.66 million, a P/E ratio of -4.00 and a beta of 0.30. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.32 and a quick ratio of 0.89. The company has a fifty day moving average price of $0.27 and a two-hundred day moving average price of $0.32. IGC Pharma has a one year low of $0.24 and a one year high of $0.50.

Institutional Trading of IGC Pharma

A number of hedge funds have recently modified their holdings of IGC. Virtu Financial LLC lifted its stake in shares of IGC Pharma by 91.0% during the 3rd quarter. Virtu Financial LLC now owns 89,546 shares of the company’s stock worth $37,000 after buying an additional 42,654 shares during the last quarter. State Street Corp lifted its stake in shares of IGC Pharma by 25.3% during the 4th quarter. State Street Corp now owns 200,799 shares of the company’s stock worth $57,000 after buying an additional 40,592 shares during the last quarter. Finally, Citadel Advisors LLC lifted its stake in shares of IGC Pharma by 131.7% during the 3rd quarter. Citadel Advisors LLC now owns 627,840 shares of the company’s stock worth $262,000 after buying an additional 356,874 shares during the last quarter. Institutional investors and hedge funds own 3.87% of the company’s stock.

About IGC Pharma

IGC Pharma, Inc, a clinical stage pharmaceutical company, engages in developing treatments for Alzheimer’s disease. The company’s lead product is IGC-AD1, which is in a Phase 2B clinical trial as a treatment for agitation in dementia due to Alzheimer’s; and TGR-63, IGC-1C, IGC-M3, and LMP in pre-clinical development. The company was formerly known as India Globalization Capital, Inc and changed its name to IGC Pharma, Inc in March 2023. The company was incorporated in 2005 and is headquartered in Potomac, Maryland.