IGC Pharma FY2027 EPS Lifted by Ascendiant Capital Markets

IGC Pharma, Inc. (NYSEAMERICAN:IGC) – Equities research analysts at Ascendiant Capital Markets upped their FY2027 EPS estimates for shares of IGC Pharma in a note issued to investors on Tuesday, April 7th. Ascendiant Capital Markets analyst E. Woo now forecasts that the company will earn ($0.08) per share for the year, up from their previous estimate of ($0.09). Ascendiant Capital Markets has a “Buy” rating and a $5.25 price objective on the stock. The consensus estimate for IGC Pharma’s current full-year earnings is ($0.11) per share.

IGC Pharma Stock Up 4.4%

Shares of NYSEAMERICAN IGC opened at $0.31 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. IGC Pharma has a 12 month low of $0.24 and a 12 month high of $0.50. The firm has a market capitalization of $30.63 million, a PE ratio of -4.43 and a beta of 0.30. The firm has a fifty day simple moving average of $0.27 and a two-hundred day simple moving average of $0.32.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Virtu Financial LLC increased its stake in shares of IGC Pharma by 91.0% in the 3rd quarter. Virtu Financial LLC now owns 89,546 shares of the company’s stock worth $37,000 after acquiring an additional 42,654 shares in the last quarter. State Street Corp increased its stake in shares of IGC Pharma by 25.3% in the 4th quarter. State Street Corp now owns 200,799 shares of the company’s stock worth $57,000 after acquiring an additional 40,592 shares in the last quarter. Finally, Citadel Advisors LLC increased its stake in shares of IGC Pharma by 131.7% in the 3rd quarter. Citadel Advisors LLC now owns 627,840 shares of the company’s stock worth $262,000 after acquiring an additional 356,874 shares in the last quarter. 3.87% of the stock is currently owned by institutional investors.

IGC Pharma Company Profile

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. The company was formerly known as India Globalization Capital, Inc and changed its name to IGC Pharma, Inc in March 2023. The company was incorporated in 2005 and is headquartered in Potomac, Maryland.