StockNews.com Begins Coverage on IGC Pharma (NYSEAMERICAN:IGC)

StockNews.com initiated coverage on shares of IGC Pharma (NYSEAMERICAN:IGC) in a research note released on Wednesday morning. The firm issued a sell rating on the construction company’s stock.

IGC Pharma Trading Up 6.5 %

IGC opened at $0.46 on Wednesday. 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 1-year low of $0.25 and a 1-year high of $0.91. The company has a market capitalization of $30.60 million, a price-to-earnings ratio of -1.76 and a beta of 1.71.

IGC Pharma (NYSEAMERICAN:IGC) last released its quarterly earnings results on Wednesday, February 14th. The construction company reported ($0.09) earnings per share 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 during the quarter.

Institutional Trading of IGC Pharma

An institutional investor recently raised its position in IGC Pharma stock. Commonwealth Equity Services LLC increased its position in shares of IGC Pharma, Inc. (NYSEAMERICAN:IGC) by 211.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,490 shares of the construction company’s stock after purchasing an additional 112,334 shares during the period. Commonwealth Equity Services LLC owned 0.31% of IGC Pharma worth $59,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.87% of the company’s stock.

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.