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

Shares of Cingulate Inc. (NASDAQ:CING) have earned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $26.50.

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

Cingulate Stock Down 1.2%

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

Cingulate (NASDAQ:CING) last issued 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). As a group, research analysts expect that Cingulate will post -11.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Cingulate

A number of hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake 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 purchasing an additional 5,543 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Cingulate in the second quarter valued at $45,000. Finally, Quantum Private Wealth LLC raised its stake in shares of Cingulate by 140.0% in the third 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. Institutional investors own 41.31% of the company’s stock.

About Cingulate

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.