IGC Pharma Notes Updated Research Coverage from Ascendiant Capital Markets
Rhea-AI Summary
IGC Pharma (NYSE American: IGC) announced that Ascendiant Capital Markets issued updated equity research coverage and raised its price target to $5.00 per share on February 24, 2026.
IGC noted analyst views are those of the analyst firm and provided a link to obtain the full report from Ascendiant Capital Markets.
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News Market Reaction – IGC
On the day this news was published, IGC gained 4.85%, reflecting a moderate positive market reaction. Argus tracked a peak move of +7.1% during that session. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $1M to the company's valuation, bringing the market cap to $25M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
IGC was up 2.23% while momentum peers were mixed: CASI up 4.64% and KLTO down 15.41%, indicating stock-specific factors rather than a broad biotech move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 23 | Clinical site addition | Positive | +2.2% | Added VIN as Phase 2 CALMA site with ~70% enrollment completed. |
| Feb 17 | IP protection | Positive | +0.0% | Secured North American composition protection for IGC-AD1. |
| Feb 12 | Investor outreach | Positive | +1.6% | Announced Ascendiant-hosted fireside chat on CALMA and pipeline. |
| Feb 10 | Research update | Positive | +3.8% | Alliance Global Partners reiterated Buy with <b>$3.00</b> price target. |
| Feb 09 | Trial expansion | Positive | +1.2% | Expanded Phase 2 CALMA into Colombia, reaching ~70% enrollment. |
Recent positive clinical and research-coverage headlines have generally coincided with modestly positive next-day price moves.
Over the past weeks, IGC has focused on advancing its Phase 2 CALMA trial for IGC-AD1, expanding sites into Colombia and adding the Visionary Investigators Network as enrollment reached about 70% of plan. Parallel to this, the company secured North American composition protection for IGC-AD1 and increased investor outreach through events like an Ascendiant fireside chat. Equity research visibility also rose, with Alliance Global Partners issuing an updated report and now Ascendiant Capital Markets raising its target, underscoring growing external coverage around the same core Alzheimer’s program.
Regulatory & Risk Context
An effective S-3/A amended resale registration filed on 2025-12-03 covers up to 978,235 shares of common stock for sale by existing holders. The company is not selling shares or receiving proceeds from these resales but bears registration expenses.
Market Pulse Summary
This announcement highlights expanded analyst coverage, with Ascendiant Capital Markets issuing an updated equity research report and setting a $5.00 per share price target. It follows a series of updates on the Phase 2 CALMA trial and prior research coverage, including a $3.00 target from Alliance Global Partners. Investors may track how continued trial execution, prior direct offerings, and the effective S-3/A resale registration interact with growing external coverage as key context for future developments.
AI-generated analysis. Not financial advice.
POTOMAC, MARYLAND / ACCESS Newswire / February 24, 2026 / IGC Pharma, Inc. (NYSE American:IGC) ("IGC" or the "Company"), today announced that Ascendiant Capital Markets has issued an updated equity research report covering the Company. According to the Ascendiant Capital Markets, the report raises its price target to
All statements, opinions, estimates, projections, and conclusions contained in analyst reports represents the views of the respective analysts and are not those of IGC Pharma. 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 updated report can be obtained directly from Ascendiant Capital Markets: Link.
About IGC Pharma (dba IGC):
IGC Pharma (NYSE American:IGC) is a clinical-stage biotechnology company leveraging AI to develop innovative treatments for Alzheimer's and metabolic disorders. Our lead asset, IGC-AD1, is a cannabinoid-based therapy currently in a Phase 2 trial (CALMA) for agitation in Alzheimer's dementia. Our pipeline includes TGR-63, targeting amyloid plaques, and early-stage programs focused on neurodegeneration, tau proteins, and metabolic dysfunctions. We integrate AI to accelerate drug discovery, optimize clinical trials, and enhance patient targeting. With a complete patent portfolio and a commitment to innovation, IGC Pharma is advancing breakthrough therapies.
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 incorporates by reference its Annual Report on Form 10-K filed with the SEC on June 27, 2025, and on Forms 10-Q filed with the SEC on August 14, 2025, and on November 14, 2025, 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. IGC Pharma, Inc. assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.
Contact Information:
Rosalyn Christian / John Nesbett
IMS Investor Relations
igc@imsinvestorrelations.com
(203) 972-9200
SOURCE: IGC Pharma, Inc.
View the original press release on ACCESS Newswire
FAQ
What did Ascendiant Capital Markets announce about IGC (IGC) on February 24, 2026?
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Does the IGC announcement change the company's guidance or financials for 2026?
Did IGC endorse Ascendiant Capital Markets' $5.00 price target for IGC (IGC)?
When was Ascendiant's updated price target for IGC (IGC) announced?
