Cingulate Inc. (NASDAQ:CING) Receives $26.50 Consensus Target Price from Analysts

Shares of Cingulate Inc. (NASDAQ:CING) have been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $26.50.

A number of research firms recently issued reports on CING. Roth Capital dropped their price target on Cingulate from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Cingulate in a research report on Wednesday, October 8th. Finally, Ascendiant Capital Markets cut 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.

Institutional Investors Weigh In On Cingulate

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its stake in 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 acquiring an additional 5,543 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Cingulate in the second quarter valued at approximately $45,000. Finally, Quantum Private Wealth LLC raised its stake in shares of Cingulate by 140.0% during the third quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock worth $94,000 after purchasing an additional 14,000 shares during the last quarter. 41.31% of the stock is owned by hedge funds and other institutional investors.

Cingulate Price Performance

Shares of NASDAQ:CING opened at $4.18 on Friday. The company’s fifty day moving average price is $3.78 and its 200 day moving average price is $4.10. Cingulate has a 12 month low of $3.20 and a 12 month high of $6.01. The firm has a market capitalization of $28.26 million, a P/E ratio of -1.15 and a beta of -0.74.

Cingulate (NASDAQ:CING) last released 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). On average, sell-side analysts anticipate that Cingulate will post -11.69 EPS for the current year.

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.