Cingulate (NASDAQ:CING) Given “Buy” Rating at HC Wainwright

Cingulate (NASDAQ:CING)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $20.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 347.43% from the company’s previous close.

Several other brokerages have also issued reports on CING. Ascendiant Capital Markets reduced their price target on Cingulate from $58.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Wall Street Zen lowered Cingulate from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Roth Mkm reiterated a “buy” rating and set a $10.00 price target on shares of Cingulate in a report on Tuesday, May 19th. Finally, Weiss Ratings upgraded Cingulate from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Cingulate Price Performance

Shares of Cingulate stock opened at $4.47 on Tuesday. The firm has a market cap of $60.21 million, a price-to-earnings ratio of -1.06 and a beta of -0.81. Cingulate has a 52-week low of $3.20 and a 52-week high of $11.89. The stock has a 50-day simple moving average of $5.87 and a 200-day simple moving average of $5.33.

Cingulate (NASDAQ:CING) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.42). As a group, equities research analysts predict that Cingulate will post -2.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CING. Bank of America Corp DE raised its stake 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 valued at $31,000 after acquiring an additional 5,543 shares in the last quarter. Soltis Investment Advisors LLC bought a new position in shares of Cingulate in the 4th quarter valued at approximately $43,000. XTX Topco Ltd bought a new position in shares of Cingulate in the 2nd quarter valued at approximately $45,000. Quadrature Capital Ltd bought a new position in shares of Cingulate in the 4th quarter valued at approximately $66,000. Finally, Quantum Private Wealth LLC raised 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 acquiring an additional 14,000 shares in the last quarter. 41.31% of the stock is 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.