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 Wednesday morning. The firm issued a sell rating on the construction company’s stock.

IGC Pharma Stock Performance

Shares of IGC stock opened at $0.46 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.85 and a quick ratio of 0.86. IGC Pharma has a 52 week low of $0.25 and a 52 week high of $0.91. The company has a market capitalization of $30.60 million, a price-to-earnings ratio of -1.76 and a beta of 1.71.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in IGC Pharma stock. Commonwealth Equity Services LLC boosted its holdings in IGC Pharma, Inc. (NYSEAMERICAN:IGC) by 211.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 165,490 shares of the construction company’s stock after acquiring an additional 112,334 shares during the quarter. Commonwealth Equity Services LLC owned 0.31% of IGC Pharma worth $59,000 at the end of the most recent quarter. 3.87% of the stock is owned by hedge funds and other institutional investors.

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.