Cingulate (NASDAQ:CING) Earns Buy Rating from Analysts at Roth Mkm

Equities research analysts at Roth Mkm began coverage on shares of Cingulate (NASDAQ:CING) in a research report issued on Friday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $12.00 price target on the stock. Roth Mkm’s price target would suggest a potential upside of 178.42% from the stock’s current price.

Separately, Maxim Group raised Cingulate from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th.

Cingulate Trading Down 8.3 %

Shares of NASDAQ CING opened at $4.31 on Friday. The firm’s 50 day moving average price is $4.34 and its 200-day moving average price is $4.07. Cingulate has a 52-week low of $1.80 and a 52-week high of $101.76.

Cingulate (NASDAQ:CING) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.22) by $0.39. As a group, research analysts expect that Cingulate will post -9.26 earnings per share for the current year.

Institutional Trading of Cingulate

An institutional investor recently bought a new position in Cingulate stock. Armistice Capital LLC acquired a new stake in shares of Cingulate Inc. (NASDAQ:CING) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 490,000 shares of the company’s stock, valued at approximately $157,000. Armistice Capital LLC owned 6.67% of Cingulate at the end of the most recent reporting period. Institutional investors and hedge funds own 41.31% of the company’s stock.

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.