Cingulate (NASDAQ:CING) Stock Rating Upgraded by Maxim Group

Cingulate (NASDAQ:CING) was upgraded by equities researchers at Maxim Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday,Benzinga reports.

Cingulate Stock Performance

Shares of CING stock opened at $4.66 on Wednesday. The business has a 50-day moving average of $4.54 and a 200 day moving average of $3.16. Cingulate has a 1-year low of $1.80 and a 1-year high of $152.40.

Cingulate (NASDAQ:CING) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($1.83) EPS for the quarter, beating the consensus estimate of ($2.22) by $0.39. As a group, equities analysts anticipate that Cingulate will post -9.26 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cingulate stock. Armistice Capital LLC purchased a new position in Cingulate Inc. (NASDAQ:CING) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 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.