Ascendiant Capital Markets Forecasts Strong Price Appreciation for IGC Pharma (NYSEMKT:IGC) Stock

IGC Pharma (NYSEMKT:IGC) had its price target hoisted by stock analysts at Ascendiant Capital Markets from $4.00 to $4.25 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock.

IGC Pharma Trading Down 15.1 %

NYSEMKT:IGC opened at $0.28 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.15 and a quick ratio of 0.98. The firm has a market capitalization of $22.07 million, a PE ratio of -2.52 and a beta of 1.32. The business has a 50 day moving average of $0.33 and a two-hundred day moving average of $0.36.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in shares of IGC Pharma by 19.0% during the fourth quarter. Geode Capital Management LLC now owns 669,685 shares of the company’s stock valued at $225,000 after buying an additional 106,716 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of IGC Pharma during the fourth quarter valued at about $42,000. Virtu Financial LLC grew its holdings in shares of IGC Pharma by 164.7% during the third quarter. Virtu Financial LLC now owns 123,060 shares of the company’s stock valued at $53,000 after buying an additional 76,563 shares during the last quarter. Northern Trust Corp grew its holdings in shares of IGC Pharma by 59.7% during the fourth quarter. Northern Trust Corp now owns 113,407 shares of the company’s stock valued at $38,000 after buying an additional 42,380 shares during the last quarter. Finally, Fullcircle Wealth LLC acquired a new position in shares of IGC Pharma during the third quarter valued at about $42,000. 3.87% of the stock is currently owned by institutional investors and hedge funds.

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.