IGC Pharma (NYSEAMERICAN:IGC) Shares Cross Above 200 Day Moving Average of $0.00

Shares of IGC Pharma, Inc. (NYSEAMERICAN:IGC) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $0.41. IGC Pharma shares last traded at $0.39, with a volume of 331,377 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on IGC shares. StockNews.com started coverage on IGC Pharma in a research note on Monday, May 6th. They issued a “sell” rating on the stock. Ascendiant Capital Markets upped their price objective on shares of IGC Pharma from $3.25 to $3.50 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Alliance Global Partners began coverage on shares of IGC Pharma in a research report on Wednesday, July 17th. They issued a “buy” rating and a $3.50 price objective for the company.

IGC Pharma Stock Up 4.6 %

The company has a market cap of $30.94 million, a PE ratio of -1.86 and a beta of 1.30. The company has a current ratio of 1.58, a quick ratio of 0.93 and a debt-to-equity ratio of 0.02.

IGC Pharma (NYSEAMERICAN:IGC) last issued its quarterly earnings data on Wednesday, August 7th. The construction company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). IGC Pharma had a negative net margin of 966.54% and a negative return on equity of 119.06%. The firm had revenue of $0.27 million during the quarter.

About IGC Pharma

IGC Pharma, Inc, a clinical stage biotechnology company, engages in developing cannabinoid-based formulations for treating diseases and conditions, including Alzheimer's disease, dysmenorrhea, premenstrual syndrome, and chronic pain. The company has two investigational drug assets targeting Alzheimer's disease comprising IGC-AD1, which is in a Phase 2B clinical trial as a treatment for agitation in dementia due to Alzheimer's; and TGR-63 that is in pre-clinical development.