IGC Pharma (NYSEAMERICAN:IGC) Price Target Raised to $3.50 at Ascendiant Capital Markets

IGC Pharma (NYSEAMERICAN:IGC) had its price target hoisted by Ascendiant Capital Markets from $3.25 to $3.50 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock.

Other equities research analysts also recently issued research reports about the stock. Alliance Global Partners began coverage on shares of IGC Pharma in a research report on Wednesday, July 17th. They set a “buy” rating and a $3.50 price objective for the company. StockNews.com assumed coverage on IGC Pharma in a report on Monday, May 6th. They set a “sell” rating for the company.

IGC Pharma Trading Up 1.3 %

Shares of IGC opened at $0.46 on Monday. IGC Pharma has a 52 week low of $0.25 and a 52 week high of $0.91. The company has a quick ratio of 0.93, a current ratio of 1.58 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $34.72 million, a PE ratio of -2.09 and a beta of 1.30.

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

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.