Cingulate (NASDAQ:CING) Coverage Initiated at Roth Mkm

Roth Mkm began coverage on shares of Cingulate (NASDAQ:CING) in a research note published on Friday morning, MarketBeat reports. The brokerage issued a buy rating and a $12.00 price objective on the stock.

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

Cingulate Stock Performance

NASDAQ CING opened at $4.81 on Friday. Cingulate has a one year low of $1.80 and a one year high of $88.44. The company’s 50 day moving average price is $4.36 and its 200 day moving average price is $4.10.

Cingulate (NASDAQ:CING) last posted its earnings results on Thursday, November 7th. The company reported ($1.83) earnings per share for the quarter, beating the consensus estimate of ($2.22) by $0.39. Equities analysts anticipate that Cingulate will post -9.26 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cingulate stock. Armistice Capital LLC acquired a new position in Cingulate Inc. (NASDAQ:CING) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 490,000 shares of the company’s stock, valued at approximately $157,000. Armistice Capital LLC owned approximately 6.67% of Cingulate at the end of the most recent reporting period. 41.31% of the stock is currently 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.