Analysts Set Cingulate Inc. (NASDAQ:CING) Price Target at $26.25

Cingulate Inc. (NASDAQ:CING) has been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $27.75.

A number of 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 company a “buy” rating in a research report on Friday, August 22nd. Roth Capital lifted their target price on shares of Cingulate from $10.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Cingulate in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On Cingulate

A hedge fund recently raised its stake in Cingulate stock. Bank of America Corp DE increased its holdings in Cingulate Inc. (NASDAQ:CING) by 283.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,501 shares of the company’s stock after purchasing an additional 5,543 shares during the period. Bank of America Corp DE owned approximately 0.14% of Cingulate worth $31,000 as of its most recent SEC filing. 41.31% of the stock is owned by hedge funds and other institutional investors.

Cingulate Price Performance

CING opened at $3.70 on Friday. The firm has a market capitalization of $20.02 million, a P/E ratio of -0.90 and a beta of -0.75. Cingulate has a one year low of $3.02 and a one year high of $6.01. The company has a fifty day moving average price of $3.95 and a 200-day moving average price of $4.18.

Cingulate (NASDAQ:CING) last posted its quarterly earnings data on Tuesday, August 19th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.27). On average, analysts expect that Cingulate will post -11.69 earnings per share 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.