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

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

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

Cingulate Stock Up 11.6 %

Shares of CING stock opened at $4.81 on Friday. The company has a 50-day moving average of $4.36 and a two-hundred day moving average of $4.10. Cingulate has a 1-year low of $1.80 and a 1-year high of $88.44.

Cingulate (NASDAQ:CING) last issued 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, analysts expect that Cingulate will post -9.26 EPS for the current year.

Institutional Trading of 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) in the 3rd quarter, according to its most recent disclosure with the SEC. 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 SEC. Hedge funds and other 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.