IGC Pharma shares surge 17.38% after-hours after Ascendiant raises price target to $4.75 on positive clinical data outlook.

IGC Pharma surged 17.38% in after-hours trading following an upgraded coverage report from Ascendiant Capital Markets. The firm raised its price target to $4.75 and highlighted anticipated positive clinical data and pipeline progress in 2025/26 as key catalysts for the stock. The report underscored confidence in IGC’s Alzheimer’s therapies, including its Phase 2 cannabinoid-based candidate IGC-AD1, and AI-driven drug development strategy. While the company emphasized that analyst views are independent, the revised target and optimism around near-term milestones likely spurred investor enthusiasm, driving the sharp after-hours rally.