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

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

IGC Pharma Trading Up 6.5 %

IGC stock opened at $0.46 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. The stock has a market cap of $30.60 million, a price-to-earnings ratio of -1.76 and a beta of 1.71. IGC Pharma has a 1-year low of $0.25 and a 1-year high of $0.91.

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

Institutional Trading of IGC Pharma

A hedge fund recently raised its stake in IGC Pharma stock. Commonwealth Equity Services LLC lifted its position in shares of IGC Pharma, Inc. (NYSEAMERICAN:IGC) by 211.3% during the third quarter, according to the company in its most recent disclosure 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 filing with the Securities and Exchange Commission. 3.87% of the stock is currently owned by hedge funds and other institutional investors.

About IGC Pharma

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.