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

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

IGC Pharma Stock Performance

Shares of NYSEAMERICAN IGC opened at $0.44 on Friday. IGC Pharma has a one year low of $0.25 and a one year high of $0.91. The stock has a market cap 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 current ratio of 1.85 and a quick ratio of 0.86.

IGC Pharma (NYSEAMERICAN:IGC) last announced its quarterly earnings data on Wednesday, February 14th. The construction company reported ($0.09) EPS for the quarter. IGC Pharma had a negative return on equity of 110.37% and a negative net margin of 1,163.24%. The business had revenue of $0.20 million for the quarter.

Institutional Investors Weigh In On IGC Pharma

A number of institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its holdings in shares of IGC Pharma by 211.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 165,490 shares of the construction company’s stock valued at $59,000 after buying an additional 112,334 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of IGC Pharma by 47.5% during the 2nd quarter. Renaissance Technologies LLC now owns 162,709 shares of the construction company’s stock valued at $51,000 after buying an additional 52,409 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of IGC Pharma by 76.2% during the 4th quarter. Millennium Management LLC now owns 144,724 shares of the construction company’s stock valued at $46,000 after buying an additional 62,599 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of IGC Pharma by 302.6% during the 2nd quarter. Jane Street Group LLC now owns 48,281 shares of the construction company’s stock valued at $26,000 after buying an additional 36,290 shares during the last quarter. Finally, Vident Investment Advisory LLC lifted its holdings in shares of IGC Pharma by 66.3% during the 1st quarter. Vident Investment Advisory LLC now owns 104,011 shares of the construction company’s stock valued at $99,000 after buying an additional 41,457 shares during the last quarter. 3.87% of the stock is currently owned by institutional investors and hedge funds.

IGC Pharma Company Profile

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.