IGC Pharma (NYSEMKT:IGC) Price Target Raised to $4.25

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,Benzinga reports. The brokerage currently has a buy rating on the stock.

IGC Pharma Stock Down 13.8 %

Shares of NYSEMKT IGC opened at $0.28 on Monday. The company’s 50 day moving average is $0.33 and its two-hundred day moving average is $0.36. The stock 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 debt-to-equity ratio of 0.02, a quick ratio of 0.98 and a current ratio of 1.15.

Institutional Investors Weigh In On IGC Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp raised its holdings in IGC Pharma by 59.7% during the fourth quarter. Northern Trust Corp now owns 113,407 shares of the company’s stock valued at $38,000 after buying an additional 42,380 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of IGC Pharma during the 4th quarter valued at about $42,000. Fullcircle Wealth LLC bought a new position in shares of IGC Pharma in the 3rd quarter valued at approximately $42,000. Virtu Financial LLC raised its stake in shares of IGC Pharma by 164.7% in the 3rd 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. Finally, Geode Capital Management LLC lifted its holdings in IGC Pharma by 19.0% in the 4th quarter. Geode Capital Management LLC now owns 669,685 shares of the company’s stock worth $225,000 after purchasing an additional 106,716 shares during the last quarter. 3.87% of the stock is owned by hedge funds and other institutional investors.

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.