Ascendiant Capital Markets Lowers Cingulate (NASDAQ:CING) Price Target to $52.00

Cingulate (NASDAQ:CING) had its price objective reduced by analysts at Ascendiant Capital Markets from $55.00 to $52.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Other equities analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of Cingulate from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Wall Street Zen lowered shares of Cingulate from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Roth Mkm reissued a “buy” rating and set a $10.00 price target on shares of Cingulate in a research report on Tuesday, May 19th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Cingulate in a research report on Tuesday, May 26th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cingulate has an average rating of “Moderate Buy” and an average target price of $27.33.

Cingulate Price Performance

CING stock opened at $4.49 on Monday. The business has a 50-day moving average price of $5.17 and a 200 day moving average price of $5.38. The company has a market capitalization of $60.48 million, a P/E ratio of -1.06 and a beta of -0.85. Cingulate has a 1-year low of $3.16 and a 1-year high of $11.89.

Cingulate (NASDAQ:CING) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.42). On average, analysts anticipate that Cingulate will post -2.38 earnings per share for the current fiscal year.

Institutional Trading of Cingulate

Several hedge funds have recently modified their holdings of CING. Bank of America Corp DE lifted 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 valued at $31,000 after buying an additional 5,543 shares during the last quarter. Soltis Investment Advisors LLC acquired a new position in shares of Cingulate during the fourth quarter valued at about $43,000. XTX Topco Ltd acquired a new position in shares of Cingulate during the second quarter valued at about $45,000. Quadrature Capital Ltd acquired a new position in shares of Cingulate during the fourth quarter valued at about $66,000. Finally, Quantum Private Wealth LLC increased its holdings in shares of Cingulate by 140.0% during the third 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 hedge funds and other institutional investors.

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.