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

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

IGC Pharma Stock Performance

IGC Pharma stock opened at $0.51 on Monday. IGC Pharma has a 12-month low of $0.25 and a 12-month high of $0.91. 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 (NYSEAMERICAN:IGC) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported ($0.09) earnings per share for the quarter. The company 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 stake in shares of IGC Pharma, Inc. (NYSEAMERICAN:IGC) by 211.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund 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 approximately 0.31% of IGC Pharma worth $59,000 as of its most recent SEC filing. 3.87% of the stock is currently owned by hedge funds and other institutional investors.

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.