Cingulate (NASDAQ:CING) Price Target Lowered to $60.00 at Ascendiant Capital Markets

Cingulate (NASDAQ:CING) had its price target dropped by research analysts at Ascendiant Capital Markets from $75.00 to $60.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Several other equities analysts have also recently weighed in on CING. Roth Mkm began coverage on Cingulate in a report on Friday, January 10th. They issued a “buy” rating and a $12.00 price objective for the company. Roth Capital raised Cingulate to a “strong-buy” rating in a research note on Friday, January 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Cingulate in a research note on Thursday, March 6th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $30.67.

Cingulate Trading Up 1.4 %

NASDAQ CING opened at $4.24 on Monday. The company has a market cap of $16.71 million, a price-to-earnings ratio of -0.29 and a beta of -0.87. The company has a 50 day moving average of $4.02 and a 200-day moving average of $4.32. Cingulate has a 1-year low of $1.80 and a 1-year high of $20.83.

Institutional Trading of Cingulate

Several institutional investors and hedge funds have recently modified their holdings of CING. Geode Capital Management LLC acquired a new position in Cingulate during the fourth quarter worth about $135,000. Commonwealth Equity Services LLC boosted its stake in shares of Cingulate by 281.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 43,022 shares of the company’s stock valued at $212,000 after purchasing an additional 31,746 shares in the last quarter. AlphaMark Advisors LLC grew its holdings in shares of Cingulate by 50,000.0% during the 4th quarter. AlphaMark Advisors LLC now owns 5,010 shares of the company’s stock valued at $25,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Cingulate during the 3rd quarter worth approximately $106,000. 41.31% of the stock is currently owned by 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.