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

StockNews.com assumed coverage on shares of IGC Pharma (NYSEAMERICAN:IGC) in a report issued on Friday morning. The firm issued a sell rating on the construction company’s stock.

IGC Pharma Stock Performance

IGC stock opened at $0.44 on Friday. The firm has a market capitalization of $27.99 million, a PE ratio of -1.69 and a beta of 1.71. IGC Pharma has a 1 year low of $0.25 and a 1 year high of $0.91. The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.02.

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. The firm had revenue of $0.20 million during the quarter. IGC Pharma had a negative return on equity of 110.37% and a negative net margin of 1,163.24%.

Institutional Investors Weigh In On IGC Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of IGC. Jane Street Group LLC raised its holdings in IGC Pharma by 302.6% during the second quarter. Jane Street Group LLC now owns 48,281 shares of the construction company’s stock valued at $26,000 after acquiring an additional 36,290 shares during the period. Millennium Management LLC raised its holdings in IGC Pharma by 76.2% during the fourth quarter. Millennium Management LLC now owns 144,724 shares of the construction company’s stock valued at $46,000 after acquiring an additional 62,599 shares during the period. Renaissance Technologies LLC raised its holdings in IGC Pharma by 47.5% during the second quarter. Renaissance Technologies LLC now owns 162,709 shares of the construction company’s stock valued at $51,000 after acquiring an additional 52,409 shares during the period. Commonwealth Equity Services LLC raised its holdings in IGC Pharma by 211.3% during the third quarter. Commonwealth Equity Services LLC now owns 165,490 shares of the construction company’s stock valued at $59,000 after acquiring an additional 112,334 shares during the period. Finally, Vident Investment Advisory LLC raised its holdings in IGC Pharma by 66.3% during the first quarter. Vident Investment Advisory LLC now owns 104,011 shares of the construction company’s stock valued at $99,000 after acquiring an additional 41,457 shares during the period. 3.87% of the stock is owned by 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.