Analysts Set Cingulate Inc. (NASDAQ:CING) PT at $27.75

Shares of Cingulate Inc. (NASDAQ:CING) have received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat reports. One 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 target among brokers that have covered the stock in the last year is $27.75.

A number of research analysts have recently commented on CING shares. Roth Capital upped their price objective on shares of Cingulate from $10.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Ascendiant Capital Markets boosted their target price on shares of Cingulate from $61.00 to $62.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cingulate in a research report on Wednesday, October 8th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in Cingulate during the second quarter valued at about $45,000. Bank of America Corp DE raised its holdings in shares of Cingulate by 283.1% in the 2nd quarter. Bank of America Corp DE now owns 7,501 shares of the company’s stock worth $31,000 after purchasing an additional 5,543 shares during the period. Finally, Quantum Private Wealth LLC lifted its stake in shares of Cingulate by 140.0% in the 3rd quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock valued at $94,000 after purchasing an additional 14,000 shares in the last quarter. 41.31% of the stock is owned by hedge funds and other institutional investors.

Cingulate Stock Up 3.5%

CING stock opened at $3.80 on Thursday. The stock has a market capitalization of $20.56 million, a price-to-earnings ratio of -0.93 and a beta of -0.74. Cingulate has a 52-week low of $3.28 and a 52-week high of $6.01. The stock’s fifty day simple moving average is $3.85 and its 200-day simple moving average is $4.15.

Cingulate (NASDAQ:CING) last released its earnings results on Tuesday, August 19th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.27). As a group, analysts anticipate that Cingulate will post -11.69 earnings per share for the current fiscal 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.