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IGC Pharma
(NYSE MKT:IGC)
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Rating:49Neutral
Price Target:
$0.27
▼(-9.00% Downside)
Action:Reiterated
Date:08/28/26
The score is primarily held back by weak financial performance—very small and declining revenue, heavy losses, and ongoing cash burn. Technicals provide some offset with an upward trend, but overbought signals raise near-term risk. Corporate events modestly improve the outlook by strengthening the balance sheet and preserving financing access, while valuation offers limited support due to negative earnings and no dividend.
Positive Factors
Low Balance-Sheet Leverage
Debt-to-equity of about 0.18 indicates limited balance-sheet leverage relative to equity, reducing immediate fixed-financing pressure. This gives IGC more flexibility to direct available capital toward clinical development while it works toward revenue-generating approvals.
Negative Factors
Small and Declining Revenue
Very small revenue, down about 5% versus the last annual period, shows that IGC has not yet established a growing commercial revenue base. Continued contraction leaves funding dependent on external transactions or eventual regulatory approvals rather than recurring product sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Balance-Sheet Leverage
Debt-to-equity of about 0.18 indicates limited balance-sheet leverage relative to equity, reducing immediate fixed-financing pressure. This gives IGC more flexibility to direct available capital toward clinical development while it works toward revenue-generating approvals.
Read all positive factors
IGC Pharma (IGC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$29.26M
Dividend YieldN/A
Average Volume (3M)925.35K
Price to Earnings (P/E)―
Beta (1Y)0.68
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees70
SectorGeneral
Sector StrengthN/A
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.08
Shares Outstanding103,384,010
10 Day Avg. Volume579,083
30 Day Avg. Volume925,353
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)4.08
Price to Sales (P/S)21.08
P/FCF Ratio-4.09
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$6.00Price Target Upside1900.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.09
Revenue Forecast (FY)$1.10M
IGC Pharma Business Overview & Revenue Model
Company Description
IGC Pharma, Inc. operates as a pharmaceutical firm, currently in the clinical development phase, dedicated to pioneering novel treatments for Alzheimer's, a debilitating condition. The company's pipeline includes two experimental drug candidates a...
How the Company Makes Money
IGC is a clinical-stage drug developer, so its ability to generate recurring commercial revenue depends primarily on successfully advancing drug candidates through clinical trials and obtaining regulatory approvals, after which it could earn reven...
IGC Pharma Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
56
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Jun 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.12M | 1.19M | 1.27M | 1.34M | 911.00K | 397.00K |
| Gross Profit | 246.00K | 352.00K | 619.00K | 733.00K | -158.00K | 194.00K |
| EBITDA | -7.44M | -6.22M | -6.66M | -12.36M | -10.85M | -14.37M |
| Net Income | -7.88M | -6.55M | -7.12M | -13.00M | -11.51M | -15.02M |
Balance Sheet | ||||||
| Total Assets | 9.50M | 9.19M | 8.75M | 9.90M | 17.18M | 26.83M |
| Cash, Cash Equivalents and Short-Term Investments | 354.00K | 235.00K | 405.00K | 1.20M | 3.35M | 10.46M |
| Total Debt | 1.08M | 926.00K | 241.00K | 345.00K | 481.00K | 611.00K |
| Total Liabilities | 3.36M | 3.06M | 2.42M | 2.58M | 2.27M | 2.94M |
| Stockholders Equity | 6.13M | 6.12M | 6.33M | 7.32M | 14.91M | 23.89M |
Cash Flow | ||||||
| Free Cash Flow | -6.10M | -6.11M | -5.28M | -5.71M | -7.67M | -8.23M |
| Operating Cash Flow | -5.89M | -5.94M | -4.79M | -5.20M | -7.05M | -7.46M |
| Investing Cash Flow | -1.03M | -192.00K | -442.00K | -317.00K | -235.00K | -742.00K |
| Financing Cash Flow | 6.81M | 5.93M | 4.45M | 3.52M | 100.00K | 4.14M |
IGC Pharma Technical Analysis
Positive
0.30
Price Trends
0.28
Positive
0.28
Positive
0.29
Positive
Market Momentum
>-0.01
Positive
54.17
Neutral
58.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IGC, the sentiment is Positive. The current price of 0.3 is above the 20-day moving average (MA) of 0.29, above the 50-day MA of 0.28, and above the 200-day MA of 0.29, indicating a bullish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 54.17 is Neutral, neither overbought nor oversold. The STOCH value of 58.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IGC.
IGC Pharma Risk Analysis
IGC Pharma disclosed 37 risk factors in its most recent earnings report. IGC Pharma reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
IGC Pharma Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | $81.08M | -2.66 | -444.44% | ― | 106.21% | 79.84% | |
50 Neutral | $35.88M | 0.67 | 940.81% | ― | -48.76% | -3.02% | |
49 Neutral | $29.26M | -3.48 | -113.58% | ― | ― | ― | |
42 Neutral | $16.03M | -1.95 | -2918.10% | ― | -8.05% | -14.12% | |
27 Underperform | $13.58M | -0.43 | 144.63% | ― | -23.95% | 30.12% |
* General Sector Average
IGC
IGC Pharma
0.29
-0.12
-29.90%
PLUR
Pluri
1.06
-3.40
-76.23%
DYAI
Dyadic International
0.41
-0.73
-63.91%
VRCA
Verrica Pharmaceuticals
4.62
0.45
10.79%
ELUT
Elutia
0.87
-0.18
-17.33%
IGC Pharma Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
IGC Pharma Executives Convert Debt Into Equity Shares
Positive
Jul 6, 2026
On June 30, 2026, IGC Pharma’s CEO Ram Mukunda and Vice President and Principal Financial Officer Claudia Grimaldi converted a combined $1.15 million of outstanding obligations, including several years of personal cash advances, into newly i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.