IGC Pharma (NYSEAMERICAN:IGC) Trading Down 3.4% – Here’s Why

IGC Pharma, Inc. (NYSEAMERICAN:IGC) dropped 3.4% during trading on Thursday . The company traded as low as $0.2726 and last traded at $0.2773. Approximately 372,877 shares were traded during trading, a decline of 5% from the average daily volume of 394,450 shares. The stock had previously closed at $0.2870.

IGC Pharma Stock Performance

The company’s 50 day simple moving average is $0.30. The stock has a market cap of $25.66 million, a PE ratio of -3.86 and a beta of 0.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.32 and a quick ratio of 0.89.

IGC Pharma (NYSEAMERICAN:IGC) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $0.19 million during the quarter. IGC Pharma had a negative net margin of 583.91% and a negative return on equity of 96.54%.

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. It also markets Holief, a wellness brand that targets women experiencing premenstrual syndrome and menstrual cramps.