IGC Pharma Announces Equity Analyst Coverage by Alliance Global Partners (AGP) with a "Buy" Recommendation and $3.50 Price Target

Rhea-AI Summary

IGC Pharma (NYSE American: IGC) has announced that Alliance Global Partners (AGP) has initiated analyst coverage on the company's common stock with a 'Buy' recommendation and a $3.50 price target. This coverage represents an independent analysis of IGC Pharma's potential in the market. The company emphasizes that the views expressed in the analyst report are those of AGP and not necessarily reflective of IGC Pharma's own perspectives. IGC Pharma also clarifies that it is not responsible for the content, accuracy, or timeliness of the information provided by analysts. Interested parties can access the full analyst report directly from Alliance Global Partners through a provided link.

Positive

• Initiation of analyst coverage by Alliance Global Partners
• 'Buy' recommendation from AGP
• $3.50 price target set by AGP

Negative

• None.

POTOMAC, Md.--(BUSINESS WIRE)-- IGC Pharma, Inc. ("IGC Pharma," "IGC," or the "Company") (NYSE American: IGC) announces that Alliance Global Partners (AGP) has issued an analyst coverage research report on the Company’s common stock.

All reports on IGC Pharma prepared by analysts represent the views of those analysts and are not necessarily those of IGC Pharma. IGC is not responsible for the content, accuracy, or timelines provided by analysts. By referring to these analysts or distributing their opinions, IGC does not in any way commit itself to the validity of such information, conclusions, or recommendations.

A copy of the analyst report can be obtained directly from Alliance Global Partners (AGP): https://europac.bluematrix.com/sellside/EmailDocViewer?encrypt=6d0805f8-b287-4270-b335-6d6a2b8ad4df&mime=pdf&co=europac&id=IBCM@allianceg.com&source=mail

About IGC Pharma Inc. (dba IGC):

IGC is focused on Alzheimer’s disease, developing innovative therapies to address this devastating illness. The Company’s mission is to transform the landscape of Alzheimer’s treatment with a robust pipeline of five promising drug candidates. IGC-AD1, with previously disclosed interim results, is in a Phase 2 clinical trial for agitation in dementia associated with Alzheimer’s (clinicaltrials.gov, NCT05543681). The remaining four molecules are in the pre-clinical stage of development. TGR-63 has been shown to disrupt the progression of Alzheimer’s by targeting Aβ plaques, a key hallmark of Alzheimer’s. IGC-1C, targets tau protein and neurofibrillary tangles, representing a forward-thinking approach to Alzheimer’s therapy. IGC-M3, aims to inhibit the aggregation of Aβ plaques, potentially impacting early-stage Alzheimer’s. LMP is designed to target multiple hallmarks of Alzheimer’s including plaques and tangles for a comprehensive approach to the disease. In addition to our drug development pipeline, we are attempting to harness the power of Artificial Intelligence to develop early disease detection models, optimize our clinical trials, and explore new applications for our drugs.

Forward-Looking Statements:

This press release contains forward-looking statements. These forward-looking statements are based largely on IGC Pharma's expectations and are subject to several risks and uncertainties, certain of which are beyond IGC Pharma's control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, the Company's failure or inability to commercialize one or more of the Company's products or technologies, including the products or formulations described in this release, or failure to obtain regulatory approval for the products or formulations, where required, or government regulations affecting AI or the AI algorithms not working as intended or producing accurate predictions; general economic conditions that are less favorable than expected; the FDA's general position regarding cannabis- and hemp-based products; and other factors, many of which are discussed in IGC Pharma's U.S. Securities and Exchange Commission ("SEC") filings. IGC Pharma incorporates by reference the human trial disclosures and Risk Factors identified in its Annual Report on Form 10-K filed with the SEC on July 7, 2023, and Quarterly Report on Form 10-Q filed with the SEC on February 14, 2024, as if fully incorporated and restated herein. Considering these risks and uncertainties, there can be no assurance that the forward-looking information contained in this release will occur.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240718012019/en/

Investors

IMS Investor Relations

Walter Frank/Rosalyn Christian

igc@imsinvestorrelations.com

(203) 972-9200

Media

JVPRNY

Janet Vasquez

jvasquez@jvprny.com

(212) 645-5498

Source: IGC Pharma, Inc.

FAQ

What is the recent analyst recommendation for IGC Pharma (IGC) stock?

Alliance Global Partners (AGP) has issued a 'Buy' recommendation for IGC Pharma (NYSE American: IGC) stock with a price target of $3.50.

Who initiated analyst coverage on IGC Pharma (IGC)?

Alliance Global Partners (AGP) has initiated analyst coverage on IGC Pharma (NYSE American: IGC).

Where can investors find the full analyst report on IGC Pharma (IGC)?

The full analyst report on IGC Pharma can be obtained directly from Alliance Global Partners (AGP) through a link provided in the press release.

Does IGC Pharma (IGC) endorse the analyst report from AGP?

IGC Pharma states that the views in the analyst report are those of AGP and not necessarily those of IGC Pharma. The company is not responsible for the content, accuracy, or timeliness of the analyst's information.