StockNews.com Begins Coverage on IGC Pharma (NYSEAMERICAN:IGC)

StockNews.com began coverage on shares of IGC Pharma (NYSEAMERICAN:IGC) in a research report report published on Tuesday. The firm issued a sell rating on the construction company’s stock.

IGC Pharma Stock Performance

IGC stock opened at $0.51 on Tuesday. The stock has a market capitalization of $34.15 million, a price-to-earnings ratio of -1.97 and a beta of 1.63. 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 12-month low of $0.25 and a 12-month high of $0.91.

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

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 the company in its most recent filing with the Securities and Exchange Commission. The fund owned 165,490 shares of the construction company’s stock after buying an additional 112,334 shares during the period. Commonwealth Equity Services LLC owned about 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.