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

Investment analysts at StockNews.com started coverage on shares of IGC Pharma (NYSEAMERICAN:IGC) in a research report issued on Friday. The firm set a “sell” rating on the construction company’s stock.

IGC Pharma Stock Performance

NYSEAMERICAN:IGC opened at $0.44 on Friday. The stock has a market capitalization of $28.05 million, a price-to-earnings ratio of -1.69 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 12-month low of $0.25 and a 12-month high of $0.91.

IGC Pharma (NYSEAMERICAN:IGC) last released its earnings results on Wednesday, February 14th. The construction company reported ($0.09) earnings per share (EPS) for the quarter. The firm 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IGC. Jane Street Group LLC increased its position in 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 purchasing an additional 36,290 shares in the last quarter. Vident Investment Advisory LLC increased its position in 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 purchasing an additional 41,457 shares in the last quarter. Millennium Management LLC increased its position in IGC Pharma by 76.2% during 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 in the last quarter. Renaissance Technologies LLC increased its position in IGC Pharma by 47.5% during the 2nd quarter. Renaissance Technologies LLC now owns 162,709 shares of the construction company’s stock worth $51,000 after purchasing an additional 52,409 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in IGC Pharma by 211.3% during 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 in 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 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.