IGC Pharma Notes Updated Research Coverage from Ascendiant Capital Markets

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.

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.

Argus Feb 24 session

+4.85% close to close Open Argus

Details

News Market Reaction – IGC

On Feb 24, the day this news came out, IGC closed 4.85% above the previous close.

Data tracked by StockTitan Argus for the Feb 24 session.

Market Context

This announcement highlights expanded analyst coverage, with Ascendiant Capital Markets issuing an u...

Analysis

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.

Key Figures

Ascendiant price target: $5.00 per share

Ascendiant price target

$5.00 per share

Updated equity research report by Ascendiant Capital Markets

Historical Context

5 past events · Latest: Feb 23

5 events

1. Feb 23

   Clinical site addition

   24h Move

   +2.2%

   Added VIN as Phase 2 CALMA site with ~70% enrollment completed.

2. Feb 17

   IP protection

   24h Move

   +0.0%

   Secured North American composition protection for IGC-AD1.

3. Feb 12

   Investor outreach

   24h Move

   +1.6%

   Announced Ascendiant-hosted fireside chat on CALMA and pipeline.

4. Feb 10

   Research update

   24h Move

   +3.8%

   Alliance Global Partners reiterated Buy with $3.00 price target.

5. Feb 09

   Trial expansion

   24h Move

   +1.2%

   Expanded Phase 2 CALMA into Colombia, reaching ~70% enrollment.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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 $5.00 per share.

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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Ascendiant Capital Markets announce about IGC (IGC) on February 24, 2026?

Ascendiant Capital Markets updated its equity research and raised its price target to $5.00 per share. According to IGC, the company announced the report and provided a link to obtain the full analyst note directly from Ascendiant Capital Markets.

How might Ascendiant's $5.00 price target affect IGC (IGC) investor sentiment?

An increased analyst price target can improve investor sentiment in the near term by signaling optimism. According to IGC, Ascendiant raised its price target to $5.00, but the company emphasized analyst views reflect the analysts and not IGC's endorsement.

Where can investors obtain the Ascendiant research report on IGC (IGC)?

Investors can obtain the updated report directly from Ascendiant Capital Markets via the link provided by IGC. According to IGC, a copy of the updated Ascendiant report is available from Ascendiant Capital Markets, not from IGC itself.

Does the IGC announcement change the company's guidance or financials for 2026?

No, the announcement does not change IGC's guidance or financial statements; it only discloses updated analyst coverage. According to IGC, the release relays Ascendiant's updated research and clarifies that analyst opinions are independent of the company.

Did IGC endorse Ascendiant Capital Markets' $5.00 price target for IGC (IGC)?

IGC did not endorse the analyst's conclusions or recommendations; it presented Ascendiant's report as an external view. According to IGC, analyst statements represent the analysts' views and the company does not commit to their validity or recommendations.

When was Ascendiant's updated price target for IGC (IGC) announced?

The updated coverage and $5.00 price target were announced on February 24, 2026. According to IGC, the company publicly disclosed Ascendiant Capital Markets' updated equity research report on that date and provided access details.