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

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

Cingulate Trading Down 4.2%

Cingulate stock traded down $0.19 during midday trading on Friday, reaching $4.30. 188,350 shares of the stock traded hands, compared to its average volume of 356,682. Cingulate has a fifty-two week low of $3.16 and a fifty-two week high of $11.89. The firm has a market cap of $62.52 million, a price-to-earnings ratio of -1.20 and a beta of -0.88. The firm has a fifty day moving average price of $4.87 and a two-hundred day moving average price of $5.40.

Wall Street Analysts Forecast Growth

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

Cingulate Company Profile

Cingulate Inc. (NASDAQ:CING) is a clinical-stage biopharmaceutical company focused on developing treatments for attention-deficit/hyperactivity disorder (ADHD) and other central nervous system conditions. The company’s lead programs are based on its proprietary Precision Timed Release (PTR) drug-delivery platform, which is designed to provide controlled, timed releases of medication from a single oral dose. Cingulate’s primary product candidate is CTx-1301, an extended-release formulation of dexmethylphenidate intended to provide all-day ADHD symptom control through multiple releases of the active ingredient.