IGC Pharma’s (IGC) Buy Rating Reaffirmed at Alliance Global Partners

IGC Pharma (NYSEMKT:IGC)‘s stock had its “buy” rating reiterated by investment analysts at Alliance Global Partners in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $3.50 target price on the stock.

Separately, Ascendiant Capital Markets increased their price objective on shares of IGC Pharma from $4.00 to $4.25 and gave the company a “buy” rating in a research note on Monday, February 24th.

IGC Pharma Price Performance

IGC stock traded down $0.01 during mid-day trading on Thursday, reaching $0.32. The company had a trading volume of 214,616 shares, compared to its average volume of 383,424. The stock has a market cap of $25.34 million, a P/E ratio of -2.82 and a beta of 1.32. The business has a 50 day moving average of $0.32 and a 200 day moving average of $0.35. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.15 and a quick ratio of 0.98.

Institutional Trading of IGC Pharma

Several hedge funds have recently modified their holdings of IGC. Squarepoint Ops LLC acquired a new stake in shares of IGC Pharma in the 4th quarter worth $42,000. Northern Trust Corp boosted its holdings in IGC Pharma by 59.7% in the fourth quarter. Northern Trust Corp now owns 113,407 shares of the company’s stock worth $38,000 after acquiring an additional 42,380 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of IGC Pharma by 19.0% during the fourth quarter. Geode Capital Management LLC now owns 669,685 shares of the company’s stock worth $225,000 after acquiring an additional 106,716 shares during the last quarter. Finally, Virtu Financial LLC increased its holdings in shares of IGC Pharma by 164.7% during the third quarter. Virtu Financial LLC now owns 123,060 shares of the company’s stock valued at $53,000 after acquiring an additional 76,563 shares in the last quarter. 3.87% of the stock is owned by hedge funds and other institutional investors.

About IGC Pharma

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.