Alliance Global Partners Reiterates “Buy” Rating for IGC Pharma (NYSEMKT:IGC)

Alliance Global Partners reissued their buy rating on shares of IGC Pharma (NYSEMKT:IGC) in a report issued on Thursday,Benzinga reports. Alliance Global Partners currently has a $3.50 price target on the stock.

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

IGC Pharma Price Performance

Shares of IGC Pharma stock opened at $0.31 on Thursday. The company has a fifty day moving average of $0.32 and a 200 day moving average of $0.35. The firm has a market capitalization of $24.30 million, a price-to-earnings ratio of -2.77 and a beta of 1.32. 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 Investors Weigh In On IGC Pharma

A number of institutional investors have recently modified their holdings of the company. Northern Trust Corp raised its position in shares of IGC Pharma by 59.7% in the 4th 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. Virtu Financial LLC boosted its position 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 valued at $53,000 after purchasing an additional 76,563 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in IGC Pharma during the fourth quarter worth approximately $42,000. Finally, Geode Capital Management LLC increased its holdings in IGC Pharma by 31.0% in the third quarter. Geode Capital Management LLC now owns 562,969 shares of the company’s stock worth $240,000 after purchasing an additional 133,142 shares in the last quarter. 3.87% of the stock is owned by 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.