Cingulate (NASDAQ:CING) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Cingulate (NASDAQ:CING) released its earnings results on Friday. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.05), FiscalAI reports.

Cingulate Trading Down 4.2%

NASDAQ CING traded down $0.19 during mid-day trading on Friday, hitting $4.30. The company’s stock had a trading volume of 188,350 shares, compared to its average volume of 132,153. The firm has a market capitalization of $62.52 million, a price-to-earnings ratio of -1.20 and a beta of -0.88. The company’s 50 day simple moving average is $4.85 and its 200 day simple moving average is $5.40. Cingulate has a twelve month low of $3.16 and a twelve month high of $11.89.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Cingulate from a “hold” rating to a “sell” rating in a research report on Saturday, November 7th. Roth Capital set a $9.00 price target on shares of Cingulate and gave the stock a “buy” rating in a report on Sunday, August 23rd. Finally, Weiss Ratings lowered shares of Cingulate from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, November 3rd. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.00.

About Cingulate

Cingulate is a clinical-stage biopharmaceutical company developing prescription treatments for attention-deficit/hyperactivity disorder (ADHD). The company’s approach is to improve how existing medicines are delivered over the course of the day. Its lead candidate, CTx-1301, is an extended-release formulation of dexmethylphenidate designed to provide multiple timed releases of medication. Cingulate is also developing CTx-1302, another candidate for ADHD. The company uses its proprietary Precision Timed Release drug-delivery platform to develop these candidates.