Cingulate Inc. (NASDAQ:CING) Given Average Rating of “Buy” by Brokerages

Shares of Cingulate Inc. (NASDAQ:CING) have received a consensus recommendation of “Buy” from the five analysts that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $26.25.

CING has been the subject of a number of research analyst reports. Ascendiant Capital Markets increased their target price on shares of Cingulate from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday. Roth Capital restated a “buy” rating on shares of Cingulate in a report on Friday, August 8th.

Hedge Funds Weigh In On Cingulate

A number of large investors have recently modified their holdings of CING. Bank of America Corp DE lifted its holdings in Cingulate by 283.1% in the second quarter. Bank of America Corp DE now owns 7,501 shares of the company’s stock valued at $31,000 after buying an additional 5,543 shares during the period. XTX Topco Ltd bought a new stake in Cingulate in the second quarter valued at approximately $45,000. Finally, Geode Capital Management LLC bought a new stake in shares of Cingulate during the fourth quarter worth $135,000. 41.31% of the stock is currently owned by institutional investors and hedge funds.

Cingulate Stock Performance

Shares of NASDAQ:CING opened at $4.19 on Friday. The stock has a market capitalization of $22.67 million, a price-to-earnings ratio of -1.02 and a beta of -0.74. Cingulate has a 1-year low of $3.02 and a 1-year high of $11.88. The company has a 50 day moving average price of $4.55 and a 200 day moving average price of $4.24.

Cingulate (NASDAQ:CING) last posted its quarterly earnings data on Tuesday, August 19th. The company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.27). On average, sell-side analysts expect that Cingulate will post -11.69 EPS for the current fiscal year.

Cingulate Company Profile

Cingulate Inc, a biopharmaceutical company, focuses on the development of pharmaceutical products for the treatment of attention deficit/hyperactivity disorder and anxiety in the United States. The company’s stimulant medications are CTx-1301 (dexmethylphenidate), which is in phase 3 clinical trial, as well as CTx-1302 (dextroamphetamine), which is in investigational new drug application development for the treatment of attention deficit/hyperactivity disorder intended for children, adolescents, and adults.