Cingulate (NASDAQ:CING) Rating Increased to Strong-Buy at Roth Capital

Roth Capital upgraded shares of Cingulate (NASDAQ:CING) to a strong-buy rating in a report issued on Friday morning,Zacks.com reports.

A number of other equities analysts have also recently commented on CING. Maxim Group upgraded Cingulate from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Roth Mkm initiated coverage on Cingulate in a research note on Friday. They set a “buy” rating and a $12.00 price target on the stock.

Cingulate Stock Performance

CING stock opened at $4.81 on Friday. The company’s 50 day moving average is $4.36 and its 200 day moving average is $4.10. Cingulate has a 1-year low of $1.80 and a 1-year high of $88.44.

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 analysts’ consensus estimates of ($2.22) by $0.39. Research analysts forecast that Cingulate will post -9.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cingulate

A hedge fund recently bought a new stake in Cingulate stock. Jane Street Group LLC purchased a new position in shares of Cingulate Inc. (NASDAQ:CING) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 Securities and Exchange Commission. 41.31% of the stock is currently owned by hedge funds and other 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.