Brokerages Set Cingulate Inc. (NASDAQ:CING) Target Price at $26.50

Cingulate Inc. (NASDAQ:CING) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $26.50.

CING has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Cingulate in a report on Wednesday, October 8th. Roth Capital decreased their price objective on 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 dropped their target price on shares of Cingulate from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, December 8th.

Cingulate Stock Up 3.5%

Shares of NASDAQ CING opened at $4.18 on Friday. Cingulate has a twelve month low of $3.20 and a twelve month high of $6.01. The stock has a market cap of $28.26 million, a price-to-earnings ratio of -1.15 and a beta of -0.74. The company’s fifty day moving average is $3.78 and its 200-day moving average is $4.10.

Cingulate (NASDAQ:CING) last released its quarterly earnings data on Thursday, November 13th. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.55). On average, research analysts anticipate that Cingulate will post -11.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Cingulate

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in Cingulate in the 2nd quarter valued at $45,000. Bank of America Corp DE raised its stake 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 valued at $31,000 after purchasing an additional 5,543 shares during the period. Finally, Quantum Private Wealth LLC raised its stake in shares of 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 purchasing an additional 14,000 shares during the period. 41.31% of the stock is currently owned by institutional investors and hedge funds.

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.