IGC Pharma, Inc. (NYSEMKT:IGC) Director Buys $199,999.90 in Stock

IGC Pharma, Inc. (NYSEMKT:IGC) Director James P. Moran bought 588,235 shares of IGC Pharma stock in a transaction dated Wednesday, September 25th. The stock was purchased at an average price of $0.34 per share, with a total value of $199,999.90. Following the purchase, the director now directly owns 942,402 shares in the company, valued at approximately $320,416.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

IGC Pharma Price Performance

NYSEMKT:IGC opened at $0.35 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.77 and a quick ratio of 1.16. The stock has a market capitalization of $26.78 million, a price-to-earnings ratio of -1.61 and a beta of 1.27.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets boosted their target price on IGC Pharma from $3.50 to $3.75 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd.

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.