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

Cingulate Inc. (NASDAQ:CING) has received a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $26.50.

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

Cingulate Trading Down 1.2%

Shares of CING opened at $4.01 on Friday. Cingulate has a 1 year low of $3.20 and a 1 year high of $6.01. The stock has a 50 day simple moving average of $3.77 and a 200-day simple moving average of $4.11. The stock has a market cap of $27.11 million, a PE 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 the consensus estimate of ($0.80) by ($0.55). On average, sell-side analysts forecast that Cingulate will post -11.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in shares of Cingulate by 283.1% in 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 in the last quarter. XTX Topco Ltd acquired a new stake in Cingulate during the 2nd quarter valued at $45,000. Finally, Quantum Private Wealth LLC increased its holdings in Cingulate by 140.0% during the 3rd quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock valued at $94,000 after purchasing an additional 14,000 shares in the last quarter. 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.