Cingulate Inc. (NASDAQ:CING) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Cingulate Inc. (NASDAQ:CING) have earned a consensus rating of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $26.50.

Several brokerages recently issued reports on CING. Weiss Ratings restated a “sell (e+)” rating on shares of Cingulate in a research note on Wednesday, October 8th. Roth Capital decreased their price objective on Cingulate from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Finally, Ascendiant Capital Markets lowered their price objective on Cingulate from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, December 8th.

Cingulate Price Performance

Shares of Cingulate stock opened at $4.01 on Friday. Cingulate has a fifty-two week low of $3.20 and a fifty-two week high of $6.01. The firm has a fifty day moving average price of $3.77 and a two-hundred day moving average price of $4.11. The company has a market cap of $27.11 million, a PE ratio of -1.11 and a beta of -0.74.

Cingulate (NASDAQ:CING) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.55). Analysts expect that Cingulate will post -11.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cingulate

A number of hedge funds have recently made changes to their positions in the business. Bank of America Corp DE lifted its holdings in shares of Cingulate by 283.1% during the 2nd quarter. Bank of America Corp DE now owns 7,501 shares of the company’s stock worth $31,000 after acquiring an additional 5,543 shares during the period. XTX Topco Ltd bought a new stake in Cingulate in the second quarter valued at about $45,000. Finally, Quantum Private Wealth LLC raised its position in Cingulate by 140.0% in the third quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock worth $94,000 after purchasing an additional 14,000 shares in the last quarter. Institutional investors and hedge funds own 41.31% of the company’s stock.

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.