Ascendiant Capital Markets Lowers Cingulate (NASDAQ:CING) Price Target to $52.00

Cingulate (NASDAQ:CING) had its price objective cut by stock analysts at Ascendiant Capital Markets from $55.00 to $52.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Several other research firms also recently issued reports on CING. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Cingulate in a report on Tuesday, May 26th. Weiss Ratings upgraded Cingulate from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Wall Street Zen lowered Cingulate from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, Roth Mkm reiterated a “buy” rating and issued a $10.00 target price on shares of Cingulate in a research report on Tuesday, May 19th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.33.

Cingulate Stock Down 0.2%

CING opened at $4.49 on Monday. Cingulate has a 52-week low of $3.16 and a 52-week high of $11.89. The company has a market cap of $60.48 million, a P/E ratio of -1.06 and a beta of -0.85. The firm’s 50-day moving average price is $5.17 and its 200-day moving average price is $5.38.

Cingulate (NASDAQ:CING) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.42). On average, research analysts anticipate that Cingulate will post -2.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Cingulate

Several hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new stake in Cingulate in the 1st quarter worth approximately $198,000. Chicago Partners Investment Group LLC purchased a new stake in Cingulate in the 1st quarter worth approximately $116,000. Kestra Advisory Services LLC boosted its position in Cingulate by 14.8% in the 1st quarter. Kestra Advisory Services LLC now owns 140,000 shares of the company’s stock worth $869,000 after purchasing an additional 18,000 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Cingulate during the 4th quarter valued at approximately $90,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Cingulate during the 4th quarter valued at approximately $66,000. Hedge funds and other institutional investors 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.