IGC Pharma (NYSEMKT:IGC) Stock Price Expected to Rise, Ascendiant Capital Markets Analyst Says

IGC Pharma (NYSEMKT:IGC) had its price target hoisted by Ascendiant Capital Markets from $4.00 to $4.25 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

IGC Pharma Stock Performance

Shares of NYSEMKT:IGC opened at $0.28 on Monday. 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 $22.39 million, a P/E ratio of -2.55 and a beta of 1.32. The company has a 50-day simple moving average of $0.33 and a 200-day simple moving average of $0.36.

Institutional Investors Weigh In On IGC Pharma

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp grew its position in IGC Pharma by 59.7% during the fourth quarter. Northern Trust Corp now owns 113,407 shares of the company’s stock worth $38,000 after buying an additional 42,380 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of IGC Pharma in the 4th quarter worth approximately $42,000. Fullcircle Wealth LLC acquired a new stake in shares of IGC Pharma during the 3rd quarter worth approximately $42,000. Virtu Financial LLC grew its holdings in shares of IGC Pharma by 164.7% during the 3rd quarter. Virtu Financial LLC now owns 123,060 shares of the company’s stock worth $53,000 after purchasing an additional 76,563 shares in the last quarter. Finally, Geode Capital Management LLC increased its position 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 valued at $225,000 after purchasing an additional 106,716 shares during the period. Institutional investors and hedge funds own 3.87% of the company’s stock.

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.