IGC Pharma (NYSEAMERICAN:IGC) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of IGC Pharma (NYSEAMERICAN:IGC) in a research note published on Tuesday morning. The brokerage issued a sell rating on the construction company’s stock.

IGC Pharma Price Performance

Shares of NYSEAMERICAN IGC opened at $0.51 on Tuesday. The stock has a market capitalization of $34.15 million, a P/E ratio of -1.97 and a beta of 1.63. The company has a quick ratio of 0.86, a current ratio of 1.85 and a debt-to-equity ratio of 0.02. IGC Pharma has a 52-week low of $0.25 and a 52-week high of $0.91.

IGC Pharma (NYSEAMERICAN:IGC) last posted its quarterly earnings data on Wednesday, February 14th. The construction company reported ($0.09) earnings per share 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%.

Hedge Funds Weigh In On IGC Pharma

An institutional investor recently raised its position in IGC Pharma stock. Commonwealth Equity Services LLC raised its position in IGC Pharma, Inc. (NYSEAMERICAN:IGC) by 211.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 165,490 shares of the construction company’s stock after acquiring an additional 112,334 shares during the period. Commonwealth Equity Services LLC owned approximately 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.

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.