IGC Pharma (NYSEAMERICAN:IGC – Get Free Report) had its target price lifted by analysts at Ascendiant Capital Markets from $5.25 to $5.50 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.
IGC Pharma Price Performance
IGC stock opened at $0.29 on Monday. The firm has a 50 day moving average of $0.30 and a 200 day moving average of $0.29. The stock has a market capitalization of $28.63 million, a PE ratio of -4.09 and a beta of 0.46. The company has a quick ratio of 0.53, a current ratio of 0.83 and a debt-to-equity ratio of 0.02. IGC Pharma has a 52 week low of $0.24 and a 52 week high of $0.50.
Institutional Trading of IGC Pharma
Institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC boosted its stake in IGC Pharma by 131.7% in the 3rd quarter. Citadel Advisors LLC now owns 627,840 shares of the company’s stock worth $262,000 after purchasing an additional 356,874 shares in the last quarter. State Street Corp boosted its stake in IGC Pharma by 25.3% in the 4th quarter. State Street Corp now owns 200,799 shares of the company’s stock worth $57,000 after purchasing an additional 40,592 shares in the last quarter. Finally, Virtu Financial LLC boosted its stake in IGC Pharma by 91.0% in the 3rd quarter. Virtu Financial LLC now owns 89,546 shares of the company’s stock worth $37,000 after purchasing an additional 42,654 shares in the last quarter. 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. The company was formerly known as India Globalization Capital, Inc and changed its name to IGC Pharma, Inc in March 2023. The company was incorporated in 2005 and is headquartered in Potomac, Maryland.
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