IGC Pharma (NYSEAMERICAN:IGC) Research Coverage Started at Alliance Global Partners

Alliance Global Partners initiated coverage on shares of IGC Pharma (NYSEAMERICAN:IGC) in a research note published on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $3.50 price objective on the construction company’s stock.

IGC has been the topic of a number of other reports. StockNews.com started coverage on IGC Pharma in a research note on Monday, May 6th. They issued a sell rating on the stock. Ascendiant Capital Markets reissued a buy rating and issued a $3.25 target price on shares of IGC Pharma in a research report on Friday, June 21st.

IGC Pharma Stock Performance

Shares of NYSEAMERICAN IGC opened at $0.46 on Wednesday. The company has a market cap of $34.95 million, a P/E ratio of -2.10 and a beta of 1.30. The company has a current ratio of 1.58, a quick ratio of 0.93 and a debt-to-equity ratio of 0.02. IGC Pharma has a 1 year low of $0.25 and a 1 year high of $0.91.

IGC Pharma (NYSEAMERICAN:IGC) last issued its quarterly earnings results on Monday, June 24th. The construction company reported ($0.04) earnings per share for the quarter. The business had revenue of $0.30 million for the quarter. IGC Pharma had a negative return on equity of 119.06% and a negative net margin of 966.54%.

About IGC Pharma

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.