Cingulate (NASDAQ:CING) Issues Quarterly Earnings Results

Cingulate (NASDAQ:CING) announced its quarterly earnings results on Friday. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.05), FiscalAI reports.

Cingulate Trading Down 4.2%

Shares of NASDAQ CING traded down $0.19 during midday trading on Friday, reaching $4.30. 188,350 shares of the company were exchanged, compared to its average volume of 356,682. Cingulate has a 1 year low of $3.16 and a 1 year high of $11.89. The stock has a fifty day simple moving average of $4.87 and a 200 day simple moving average of $5.40. The stock has a market cap of $62.52 million, a P/E ratio of -1.20 and a beta of -0.88.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CING shares. Roth Capital set a $9.00 price objective on shares of Cingulate and gave the company a “buy” rating in a research note on Sunday, August 23rd. Wall Street Zen cut Cingulate from a “hold” rating to a “sell” rating in a research report on Saturday, November 7th. Finally, Weiss Ratings downgraded Cingulate from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, November 3rd. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

About Cingulate

Cingulate Inc. (NASDAQ:CING) is a clinical-stage biopharmaceutical company focused on developing treatments for attention-deficit/hyperactivity disorder (ADHD) and other central nervous system conditions. The company’s lead programs are based on its proprietary Precision Timed Release (PTR) drug-delivery platform, which is designed to provide controlled, timed releases of medication from a single oral dose. Cingulate’s primary product candidate is CTx-1301, an extended-release formulation of dexmethylphenidate intended to provide all-day ADHD symptom control through multiple releases of the active ingredient.