Cingulate Inc. (NASDAQ:CING) Receives $27.75 Consensus Target Price from Analysts

Cingulate Inc. (NASDAQ:CING) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $27.75.

Several equities analysts have recently issued reports on the company. Ascendiant Capital Markets lifted their price target on Cingulate from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. Roth Capital boosted their price target on Cingulate from $10.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cingulate in a report on Wednesday, October 8th.

Institutional Trading of Cingulate

An institutional investor recently bought a new position in Cingulate stock. XTX Topco Ltd acquired a new stake in shares of Cingulate Inc. (NASDAQ:CING) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,943 shares of the company’s stock, valued at approximately $45,000. XTX Topco Ltd owned about 0.21% of Cingulate as of its most recent SEC filing. Hedge funds and other institutional investors own 41.31% of the company’s stock.

Cingulate Stock Performance

CING stock opened at $3.73 on Thursday. The firm has a market cap of $20.18 million, a P/E ratio of -0.91 and a beta of -0.74. Cingulate has a 52 week low of $3.28 and a 52 week high of $6.01. The firm’s fifty day moving average is $3.85 and its 200 day moving average is $4.16.

Cingulate (NASDAQ:CING) last posted its earnings results on Tuesday, August 19th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.27). As a group, analysts forecast that Cingulate will post -11.69 EPS for the current year.

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.