IGC Pharma, Inc. (NYSEAMERICAN:IGC – Get Free Report) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 1,072,899 shares, an increase of 48.0% from the August 31st total of 724,844 shares. Based on an average trading volume of 524,387 shares, the short-interest ratio is currently 2.0 days. Currently, 1.4% of the shares of the company are short sold.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on IGC shares. Zacks Research raised IGC Pharma to a “hold” rating in a report on Friday, August 28th. Ascendiant Capital Markets upped their price objective on shares of IGC Pharma from $5.25 to $5.50 and gave the company a “buy” rating in a report on Monday, June 8th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.50.
IGC Pharma Price Performance
IGC Pharma (NYSEAMERICAN:IGC – Get Free Report) last posted its earnings results on Friday, August 14th. The company reported ($0.03) EPS for the quarter. The business had revenue of $0.27 million during the quarter. Equities research analysts anticipate that IGC Pharma will post -0.1 EPS for the current fiscal year.
About IGC Pharma
IGC Pharma, Inc is a life sciences company focused on developing and commercializing cannabinoid-based therapies and other plant-derived pharmaceutical products. Its research and development efforts have included treatments for neurological and neurodegenerative conditions, including Alzheimer’s disease, as well as products intended to address pain, seizures and other health-related needs.
The company has developed proprietary cannabinoid formulations and has pursued clinical development and regulatory advancement for its lead therapeutic candidates.
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