HC Wainwright Issues Positive Forecast for Cingulate (NASDAQ:CING) Stock Price

Cingulate (NASDAQ:CING) had its price target hoisted by equities researchers at HC Wainwright from $8.00 to $20.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 321.94% from the stock’s current price.

CING has been the subject of a number of other reports. Roth Mkm began coverage on shares of Cingulate in a research report on Friday, January 10th. They issued a “buy” rating and a $12.00 price target for the company. Maxim Group raised shares of Cingulate from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, Roth Capital upgraded shares of Cingulate to a “strong-buy” rating in a report on Friday, January 10th.

Cingulate Stock Down 5.2 %

NASDAQ:CING opened at $4.74 on Thursday. The firm’s 50-day moving average price is $4.58 and its 200-day moving average price is $4.53. Cingulate has a 1-year low of $1.80 and a 1-year high of $58.32.

Cingulate (NASDAQ:CING) last posted its earnings results 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, sell-side analysts predict that Cingulate will post -11.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Cingulate

A hedge fund recently bought a new stake in Cingulate stock. Jane Street Group LLC purchased a new stake in Cingulate Inc. (NASDAQ:CING) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 21,031 shares of the company’s stock, valued at approximately $106,000. Jane Street Group LLC owned 0.66% of Cingulate as of its most recent filing with the SEC. 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.