IGC Pharma (NYSEAMERICAN:IGC) Shares Down 3.4% – Here’s Why

IGC Pharma, Inc. (NYSEAMERICAN:IGC) shares traded down 3.4% on Thursday . The company traded as low as $0.2726 and last traded at $0.2773. 372,877 shares changed hands during mid-day trading, a decline of 5% from the average session volume of 394,450 shares. The stock had previously closed at $0.2870.

IGC Pharma Price Performance

The stock’s 50 day simple moving average is $0.30. The company has a market cap of $26.35 million, a P/E ratio of -3.96 and a beta of 0.32. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.32.

IGC Pharma (NYSEAMERICAN:IGC) last posted its earnings results on Friday, November 14th. The company reported ($0.02) EPS for the quarter. The firm had revenue of $0.19 million for the quarter. IGC Pharma had a negative return on equity of 96.54% and a negative net margin of 583.91%.

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. It also markets Holief, a wellness brand that targets women experiencing premenstrual syndrome and menstrual cramps.