IGC Pharma (NYSEMKT:IGC) Price Target Raised to $4.75

IGC Pharma (NYSEMKT:IGC) had its price target lifted by Ascendiant Capital Markets from $4.50 to $4.75 in a research note published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Zacks Research downgraded IGC Pharma from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $4.13.

IGC Pharma Price Performance

NYSEMKT:IGC opened at $0.32 on Tuesday. The company has a market capitalization of $30.00 million, a P/E ratio of -2.94 and a beta of 0.24. The company has a quick ratio of 0.98, a current ratio of 1.15 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 $0.48. The stock’s fifty day moving average is $0.37 and its two-hundred day moving average is $0.36.

Institutional Trading of IGC Pharma

A hedge fund recently raised its stake in IGC Pharma stock. Virtu Financial LLC lifted its position in shares of IGC Pharma, Inc. (NYSEMKT:IGC) by 91.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,546 shares of the company’s stock after purchasing an additional 42,654 shares during the quarter. Virtu Financial LLC owned approximately 0.10% of IGC Pharma worth $37,000 as of its most recent filing with the Securities and Exchange Commission. 3.87% of the stock is owned by institutional investors and hedge funds.

About IGC Pharma

IGC Pharma, Inc, a clinical stage pharmaceutical company, engages in developing treatments for Alzheimer’s disease. The company’s lead product is IGC-AD1, which is in a Phase 2B clinical trial as a treatment for agitation in dementia due to Alzheimer’s; and TGR-63, IGC-1C, IGC-M3, and LMP in pre-clinical development.