IGC Pharma shares jump 20.10% intraday after Ascendiant Capital raises price target to $4.75, citing 2025/26 clinical progress as catalysts.

IGC Pharma surged 20.10% intraday following the announcement of a coverage report by Ascendiant Capital Markets, which raised its price target to $4.75 and highlighted positive clinical data and 2025/26 progress as key catalysts. The firm emphasized IGC’s Phase 2 trial (CALMA) for Alzheimer’s agitation and broader pipeline advancements, including AI-driven drug discovery. While IGC disclaimed endorsement of analyst views, the report’s optimistic outlook likely spurred investor optimism, aligning with the sharp intraday rally. The move reflects heightened market confidence in the company’s clinical milestones and strategic focus on Alzheimer’s and metabolic disorders.