Brokerages Set Cingulate Inc. (NASDAQ:CING) Target Price at $27.50

by · The Cerbat Gem

Cingulate Inc. (NASDAQ:CING – Get Free Report) has been assigned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $27.50.

Several research firms recently commented on CING. Ascendiant Capital Markets upped their price target on shares of Cingulate from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Cingulate in a research note on Wednesday, October 8th. Finally, Roth Capital decreased their target price on shares of Cingulate from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th.

Check Out Our Latest Stock Report on Cingulate

Cingulate Stock Up 1.5%

Shares of NASDAQ CING opened at $3.95 on Monday. The business has a 50-day moving average price of $3.78 and a 200 day moving average price of $4.10. The stock has a market cap of $26.70 million, a PE ratio of -1.09 and a beta of -0.74. Cingulate has a 52-week low of $3.20 and a 52-week high of $6.01.

Cingulate (NASDAQ:CING – Get Free Report) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.55). Sell-side analysts anticipate that Cingulate will post -11.69 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new stake in shares of Cingulate during the second quarter worth approximately $45,000. Bank of America Corp DE grew its position in Cingulate by 283.1% in the 2nd 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 last quarter. Finally, Quantum Private Wealth LLC increased its stake in Cingulate by 140.0% in the 3rd quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock valued at $94,000 after buying an additional 14,000 shares during the period. 41.31% of the stock is currently owned by hedge funds and other institutional investors.

Cingulate Company Profile

(Get Free Report)

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.

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