Roth Capital Upgrades Cingulate (NASDAQ:CING) to Strong-Buy

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

A number of other research analysts also recently weighed in on CING. Maxim Group upgraded shares of Cingulate from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th. Roth Mkm started coverage on Cingulate in a report on Friday. They issued a “buy” rating and a $12.00 price target for the company.

Cingulate Trading Up 11.6 %

Shares of CING stock opened at $4.81 on Friday. Cingulate has a twelve month low of $1.80 and a twelve month high of $88.44. The stock has a 50 day moving average of $4.36 and a 200 day moving average of $4.13.

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. On average, equities research analysts forecast that Cingulate will post -9.26 earnings per share 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 bought a new stake in Cingulate Inc. (NASDAQ:CING) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,031 shares of the company’s stock, valued at approximately $106,000. Jane Street Group LLC owned approximately 0.66% of Cingulate at the end of the most recent reporting period. Institutional investors and hedge funds 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.