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

Shares of Cingulate Inc. (NASDAQ:CING) have earned a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $26.50.

A number of brokerages recently issued reports on CING. Roth Capital decreased their target price 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. Ascendiant Capital Markets decreased their price objective on shares of Cingulate from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, December 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cingulate in a research note on Wednesday, October 8th.

Cingulate Trading Up 3.3%

NASDAQ CING opened at $4.34 on Friday. The company has a 50-day moving average price of $3.82 and a two-hundred day moving average price of $4.10. Cingulate has a 52 week low of $3.20 and a 52 week high of $6.01. The stock has a market cap of $29.34 million, a price-to-earnings ratio of -1.20 and a beta of -0.77.

Cingulate (NASDAQ:CING) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.55). As a group, equities research analysts expect that Cingulate will post -11.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CING. Bank of America Corp DE boosted its position in shares of Cingulate by 283.1% during 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 in the last quarter. XTX Topco Ltd acquired a new stake in Cingulate during the second quarter valued at approximately $45,000. Finally, Quantum Private Wealth LLC increased its holdings 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 in the last quarter. 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.