Brokerages Set Cingulate Inc. (NASDAQ:CING) Price Target at $26.50

Cingulate Inc. (NASDAQ:CING) has been given an average recommendation of “Moderate Buy” by the five brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $26.50.

Several analysts have recently weighed in on CING shares. Weiss Ratings restated a “sell (e+)” rating on shares of Cingulate in a report on Wednesday, October 8th. Roth Capital dropped their price target on shares of Cingulate from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Finally, Ascendiant Capital Markets reduced their price objective on shares of Cingulate from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, December 8th.

Cingulate Price Performance

Cingulate stock opened at $4.20 on Friday. Cingulate has a 12-month low of $3.20 and a 12-month high of $6.01. The stock has a market capitalization of $28.39 million, a PE ratio of -1.16 and a beta of -0.74. The firm has a 50 day simple moving average of $3.79 and a 200-day simple moving average of $4.10.

Cingulate (NASDAQ:CING) last announced its earnings results on Thursday, November 13th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.55). On average, analysts forecast that Cingulate will post -11.69 earnings per share for the current fiscal year.

Institutional Trading of Cingulate

Large investors have recently added to or reduced their stakes in the business. Quantum Private Wealth LLC increased its holdings in shares of Cingulate by 140.0% in the third quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock valued at $94,000 after buying an additional 14,000 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Cingulate during the second quarter worth $45,000. Finally, Bank of America Corp DE raised its position in shares of Cingulate by 283.1% during the second 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. 41.31% of the stock is currently owned by institutional investors.

About Cingulate

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.