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

Shares of Cingulate Inc. (NASDAQ:CING) have been assigned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $26.50.

Several equities research analysts have recently commented on CING shares. Ascendiant Capital Markets decreased their target price on shares of Cingulate from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, December 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cingulate in a research note on Wednesday, October 8th. Finally, Roth Capital decreased their price objective on Cingulate from $17.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, November 19th.

Institutional Investors Weigh In On Cingulate

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in 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 last quarter. XTX Topco Ltd bought a new position in shares of Cingulate during the second quarter valued at about $45,000. Finally, Quantum Private Wealth LLC boosted its holdings in Cingulate by 140.0% during 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 during the last quarter. 41.31% of the stock is owned by hedge funds and other institutional investors.

Cingulate Stock Down 1.2%

Shares of NASDAQ:CING opened at $4.01 on Friday. Cingulate has a twelve month low of $3.20 and a twelve month high of $6.01. The stock’s 50 day moving average is $3.77 and its 200-day moving average is $4.11. The firm has a market capitalization of $27.11 million, a price-to-earnings ratio of -1.11 and a beta of -0.74.

Cingulate (NASDAQ:CING) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.55). Equities research analysts anticipate that Cingulate will post -11.69 earnings per share 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.