Geode Capital Management LLC raised its holdings in IGC Pharma, Inc. (NYSEMKT:IGC – Free Report) by 31.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 562,969 shares of the company’s stock after acquiring an additional 133,142 shares during the quarter. Geode Capital Management LLC’s holdings in IGC Pharma were worth $240,000 at the end of the most recent reporting period.
Separately, Fullcircle Wealth LLC bought a new position in shares of IGC Pharma during the 3rd quarter valued at about $42,000. Institutional investors and hedge funds own 3.87% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Ascendiant Capital Markets increased their price objective on IGC Pharma from $3.75 to $4.00 and gave the company a “buy” rating in a research report on Thursday, December 5th.
IGC Pharma Trading Down 2.8 %
IGC opened at $0.34 on Tuesday. The firm has a 50-day moving average of $0.36. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.98 and a current ratio of 1.52. The firm has a market capitalization of $25.98 million, a P/E ratio of -1.86 and a beta of 1.32.
IGC Pharma (NYSEMKT:IGC – Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01. The business had revenue of $0.41 million for the quarter, compared to analyst estimates of $0.29 million. IGC Pharma had a negative return on equity of 158.95% and a negative net margin of 1,062.47%. On average, equities research analysts anticipate that IGC Pharma, Inc. will post -0.13 EPS for the current fiscal year.
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.
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