Ascendiant Capital Markets Issues Positive Forecast for IGC Pharma (NYSEMKT:IGC) Stock Price

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

IGC Pharma Stock Performance

NYSEMKT:IGC opened at $0.30 on Monday. The stock’s fifty day moving average price is $0.34. The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $23.67 million, a price-to-earnings ratio of -2.70 and a beta of 1.32.

Hedge Funds Weigh In On IGC Pharma

Several institutional investors have recently added to or reduced their stakes in IGC. Northern Trust Corp grew its stake in shares of IGC Pharma by 59.7% during the 4th 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 period. Squarepoint Ops LLC acquired a new stake in IGC Pharma during the fourth quarter worth about $42,000. Fullcircle Wealth LLC purchased a new position in shares of IGC Pharma in the 3rd quarter worth about $42,000. Virtu Financial LLC lifted its stake in shares of IGC Pharma by 164.7% in the 3rd quarter. Virtu Financial LLC now owns 123,060 shares of the company’s stock valued at $53,000 after purchasing an additional 76,563 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of IGC Pharma by 19.0% during the 4th quarter. Geode Capital Management LLC now owns 669,685 shares of the company’s stock worth $225,000 after purchasing an additional 106,716 shares during the period. 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.