Brokers Issue Forecasts for IGC Pharma FY2027 Earnings

IGC Pharma, Inc. (NYSEAMERICAN:IGC) – Equities researchers at Ascendiant Capital Markets raised their FY2027 EPS estimates for shares of IGC Pharma in a research report issued to clients and investors on Tuesday, April 7th. Ascendiant Capital Markets analyst E. Woo now anticipates that the company will post earnings of ($0.08) per share for the year, up from their previous estimate of ($0.09). Ascendiant Capital Markets currently has a “Buy” rating and a $5.25 target price on the stock. The consensus estimate for IGC Pharma’s current full-year earnings is ($0.11) per share.

IGC Pharma Trading Up 3.2%

NYSEAMERICAN:IGC opened at $0.32 on Wednesday. IGC Pharma has a one year low of $0.24 and a one year high of $0.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.32. The firm has a market cap of $31.62 million, a P/E ratio of -4.57 and a beta of 0.30. The firm has a 50-day simple moving average of $0.27 and a 200-day simple moving average of $0.32.

Institutional Investors Weigh In On IGC Pharma

Several large investors have recently modified their holdings of IGC. Citadel Advisors LLC raised its holdings in shares of IGC Pharma by 131.7% in the 3rd quarter. Citadel Advisors LLC now owns 627,840 shares of the company’s stock valued at $262,000 after purchasing an additional 356,874 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of IGC Pharma by 91.0% in the 3rd quarter. Virtu Financial LLC now owns 89,546 shares of the company’s stock valued at $37,000 after purchasing an additional 42,654 shares in the last quarter. Finally, State Street Corp grew its position in shares of IGC Pharma by 25.3% in 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. Institutional investors 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.