Cingulate (NASDAQ:CING) Upgraded to “Strong-Buy” at Roth Capital

Cingulate (NASDAQ:CING) was upgraded by equities researchers at Roth Capital to a “strong-buy” rating in a research note issued on Friday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Roth Mkm assumed coverage on Cingulate in a report on Friday. They set a “buy” rating and a $12.00 price target for the company. Maxim Group upgraded Cingulate from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th.

Cingulate Price Performance

Shares of NASDAQ CING opened at $4.81 on Friday. Cingulate has a 52-week low of $1.80 and a 52-week high of $88.44. The business has a fifty day moving average of $4.36 and a two-hundred day moving average of $4.10.

Cingulate (NASDAQ:CING) last announced its quarterly 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, equities analysts forecast that Cingulate will post -9.26 earnings per share for the current fiscal year.

Institutional Trading of Cingulate

A hedge fund recently bought a new stake in Cingulate stock. Armistice Capital LLC acquired a new stake in Cingulate Inc. (NASDAQ:CING) during the second quarter, according to its most recent filing with the SEC. The firm acquired 490,000 shares of the company’s stock, valued at approximately $157,000. Armistice Capital LLC owned about 6.67% of Cingulate as of its most recent filing with the SEC. Institutional investors 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.