IGC Pharma (NYSEAMERICAN:IGC) Shares Cross Above 200 Day Moving Average of $0.00

IGC Pharma, Inc. (NYSEAMERICAN:IGC)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.00 and traded as high as $0.41. IGC Pharma shares last traded at $0.39, with a volume of 331,377 shares traded.

Analyst Ratings Changes

A number of brokerages have issued reports on IGC. Alliance Global Partners began coverage on shares of IGC Pharma in a report on Wednesday, July 17th. They issued a “buy” rating and a $3.50 price target on the stock. Ascendiant Capital Markets raised their target price on shares of IGC Pharma from $3.25 to $3.50 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, StockNews.com assumed coverage on shares of IGC Pharma in a research report on Monday, May 6th. They issued a “sell” rating for the company.

IGC Pharma Price Performance

The company has a current ratio of 1.58, a quick ratio of 0.93 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $30.94 million, a P/E ratio of -1.86 and a beta of 1.30.

IGC Pharma (NYSEAMERICAN:IGC) last posted its earnings results on Wednesday, August 7th. The construction company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). IGC Pharma had a negative net margin of 966.54% and a negative return on equity of 119.06%. The firm had revenue of $0.27 million during the quarter.

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.