IGC Pharma (NYSEAMERICAN:IGC) Issues Earnings Results, Meets Estimates

IGC Pharma (NYSEAMERICAN:IGC) announced its quarterly earnings results on Friday. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02), FiscalAI reports. The business had revenue of $0.33 million during the quarter.

IGC Pharma Stock Performance

NYSEAMERICAN:IGC traded up $0.01 during trading hours on Friday, reaching $0.20. 600,702 shares of the company’s stock were exchanged, compared to its average volume of 747,055. IGC Pharma has a 1-year low of $0.08 and a 1-year high of $0.40. The company has a quick ratio of 0.19, a current ratio of 0.39 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $23.23 million, a price-to-earnings ratio of -2.86 and a beta of 0.55. The company has a 50-day moving average of $0.26 and a 200 day moving average of $0.28.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of IGC Pharma to a “hold” rating in a research report on Friday, August 28th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

About IGC Pharma

IGC Pharma, Inc is a biotechnology company focused on developing cannabinoid-based pharmaceutical products and therapies. The company’s research programs target neurological and other health conditions, including Alzheimer’s disease, dementia-related symptoms, pain, seizures and related disorders.

One of IGC Pharma’s principal development programs is IGC-AD1, an investigational cannabinoid-based therapy being studied for dementia-related agitation associated with Alzheimer’s disease. The company has also developed cannabinoid formulations and consumer products, including products previously marketed under the Hyalolex name.