Geode Capital Management LLC Has $240,000 Stock Holdings in IGC Pharma, Inc. (NYSEMKT:IGC)

Geode Capital Management LLC lifted its holdings in IGC Pharma, Inc. (NYSEMKT:IGC) by 31.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 562,969 shares of the company’s stock after purchasing an additional 133,142 shares during the quarter. Geode Capital Management LLC owned about 0.74% of IGC Pharma worth $240,000 as of its most recent SEC filing.

Separately, Fullcircle Wealth LLC bought a new stake in shares of IGC Pharma during the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 3.87% of the company’s stock.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets increased their price objective on IGC Pharma from $3.75 to $4.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th.

IGC Pharma Stock Down 2.8 %

Shares of IGC Pharma stock opened at $0.34 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.52 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $0.36. The stock has a market cap of $25.98 million, a price-to-earnings ratio of -1.86 and a beta of 1.32.

IGC Pharma (NYSEMKT:IGC) last announced its earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. The company had revenue of $0.41 million for the quarter, compared to analysts’ expectations of $0.29 million. IGC Pharma had a negative return on equity of 158.95% and a negative net margin of 1,062.47%. As a group, analysts expect that IGC Pharma, Inc. will post -0.13 earnings per share for the current fiscal year.

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.