IGC Pharma (NYSEAMERICAN:IGC) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of IGC Pharma (NYSEAMERICAN:IGC) in a report released on Thursday. The brokerage issued a sell rating on the construction company’s stock.

IGC Pharma Trading Down 18.8 %

Shares of NYSEAMERICAN:IGC opened at $0.48 on Thursday. 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 1 year low of $0.25 and a 1 year high of $0.91.

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

Institutional Trading of IGC Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its holdings in shares of IGC Pharma by 302.6% in 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 in the last quarter. Millennium Management LLC grew its holdings in shares of IGC Pharma by 76.2% in 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 in the last quarter. Renaissance Technologies LLC grew its holdings in shares of IGC Pharma by 47.5% in 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 in the last quarter. Commonwealth Equity Services LLC lifted its stake in IGC Pharma by 211.3% in the third quarter. Commonwealth Equity Services LLC now owns 165,490 shares of the construction company’s stock valued at $59,000 after purchasing an additional 112,334 shares during the last quarter. Finally, Vident Investment Advisory LLC lifted its stake in IGC Pharma by 66.3% in the first quarter. Vident Investment Advisory LLC now owns 104,011 shares of the construction company’s stock valued at $99,000 after purchasing an additional 41,457 shares during the last quarter. 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.