Ascendiant Capital Markets Increases IGC Pharma (NYSEMKT:IGC) Price Target to $4.75

IGC Pharma (NYSEMKT:IGC) had its target price boosted by equities research analysts at Ascendiant Capital Markets from $4.50 to $4.75 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Separately, Zacks Research cut IGC Pharma from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.13.

IGC Pharma Trading Up 7.0%

Shares of IGC opened at $0.35 on Tuesday. The company’s fifty day simple moving average is $0.37 and its 200-day simple moving average is $0.36. The company has a market cap of $32.41 million, a P/E ratio of -3.17 and a beta of 0.24. The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.02. IGC Pharma has a twelve month low of $0.25 and a twelve month high of $0.48.

Institutional Trading of IGC Pharma

An institutional investor recently raised its position in IGC Pharma stock. Citadel Advisors LLC grew its stake in shares of IGC Pharma, Inc. (NYSEMKT:IGC) by 131.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 627,840 shares of the company’s stock after acquiring an additional 356,874 shares during the period. Citadel Advisors LLC owned about 0.68% of IGC Pharma worth $262,000 at the end of the most recent quarter. 3.87% of the stock is currently owned by institutional investors.

IGC Pharma Company Profile

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.