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

Equities researchers at StockNews.com started coverage on shares of IGC Pharma (NYSEAMERICAN:IGC) in a report released on Wednesday. The brokerage set a “sell” rating on the construction company’s stock.

IGC Pharma Stock Down 2.1 %

IGC stock opened at $0.43 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 52 week low of $0.25 and a 52 week high of $0.91. The firm has a market cap of $28.73 million, a P/E ratio of -1.65 and a beta of 1.71.

IGC Pharma (NYSEAMERICAN:IGC) last announced its quarterly earnings results on Wednesday, February 14th. The construction company reported ($0.09) earnings per share for the quarter. The firm had revenue of $0.20 million for the quarter. IGC Pharma had a negative net margin of 1,163.24% and a negative return on equity of 110.37%.

Institutional Investors Weigh In On IGC Pharma

An institutional investor recently raised its position in IGC Pharma stock. Commonwealth Equity Services LLC lifted its stake in IGC Pharma, Inc. (NYSEAMERICAN:IGC) by 211.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing. 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.