IGC Pharma (NYSEAMERICAN:IGC) Stock Price Up 2.1% – Here’s What Happened

Shares of IGC Pharma, Inc. (NYSEAMERICAN:IGC) were up 2.1% during mid-day trading on Thursday. The stock traded as high as $0.25 and last traded at $0.2477. 174,956 shares were traded during trading, a decline of 73% from the average session volume of 654,640 shares. The stock had previously closed at $0.2425.

Analyst Ratings Changes

Separately, Zacks Research upgraded IGC Pharma to a “hold” rating in a research report on Friday, August 28th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.50.

IGC Pharma Stock Performance

The company’s 50 day moving average is $0.28 and its 200-day moving average is $0.28. The company has a quick ratio of 0.19, a current ratio of 0.39 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $25.43 million, a P/E ratio of -3.51 and a beta of 0.47.

IGC Pharma (NYSEAMERICAN:IGC) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter. The firm had revenue of $0.27 million for the quarter. As a group, equities analysts anticipate that IGC Pharma, Inc. will post -0.10 EPS for the current year.

About IGC Pharma

IGC Pharma, Inc is a clinical-stage pharmaceutical company focused on developing cannabinoid-based therapies for neurological and neurodegenerative conditions. Its research programs target conditions including Alzheimer’s disease, dementia, pain, seizures, and other disorders affecting the central nervous system.

The company’s lead investigational product, IGC-AD1, is an oral formulation designed for the treatment of agitation associated with dementia related to Alzheimer’s disease. IGC Pharma has conducted clinical research on the product and continues to evaluate cannabinoid-based formulations through its pharmaceutical development programs.

In addition to its prescription-drug pipeline, the company has developed hemp-derived cannabinoid products marketed under the Holi Hemp brand.