IGC Pharma (NYSEMKT:IGC) Shares Up 18.7% – Still a Buy?

Shares of IGC Pharma, Inc. (NYSEMKT:IGC) traded up 18.7% during trading on Thursday . The company traded as high as $0.3399 and last traded at $0.3870. 214,616 shares traded hands during trading, a decline of 77% from the average session volume of 913,992 shares. The stock had previously closed at $0.3261.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised IGC Pharma from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat, IGC Pharma presently has an average rating of “Buy” and a consensus price target of $3.88.

IGC Pharma Trading Up 18.7%

The firm has a market cap of $35.59 million, a price-to-earnings ratio of -3.52 and a beta of 1.07. The company has a quick ratio of 0.98, a current ratio of 1.15 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $0.41 and a 200-day moving average price of $0.36.

About IGC Pharma

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.